Tesoro (TSO) is the only independent refiner Credit Suisse supports, bolstered by its California...

|About: Tesoro Corporation (TSO)|By:, SA News Editor

Tesoro (TSO) is the only independent refiner Credit Suisse supports, bolstered by its California refinery acquisition, in an environment of reduced Gulf margins in 2013 and lower mid-continental crude spreads. But while the firm hikes TSO's price target to $53 from $50, it cuts ratings for MPC, PSX, DK and WNR.