Entering text into the input field will update the search result below

Tesoro upgraded to Buy at Citigroup following pullback

Jul. 19, 2016 9:57 AM ETAndeavor (ANDV) StockANDVBy: Carl Surran, SA News Editor
  • Tesoro (TSO +0.3%) is upgraded to Buy from Neutral with a $92 price target at Citigroup following the recent pullback in the stock.
  • Citi's Faisel Khan cautions that despite the growth in crack spreads, material headwinds remain for refiners due to higher RIN costs and increased gasoline inventories, but also notes that TSO obtains a meaningful part of its cash flows from its marketing and midstream assets, and that the value of these assets has “held up better than pure refining assets.”
  • For Q2, Khan expects TSO to report a Q/Q improvement in margins, although significantly below prior estimates.

Recommended For You

More Trending News

Related Stocks

SymbolLast Price% Chg
ANDV--
Andeavor
To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.