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Tesoro Corporation (TSO)
by Zacks Equity ResearchNovember 14, 2012 | Comments : 0 Recommended this article: ()
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Our positive stance also revolves around Tesoro's proposed acquisition of BP's Southern California refinery, which would boost refinery capacity and improve the company's operational efficiency. An uptick in crack spreads and Tesoro's scale and diversification benefits afforded by its portfolio of seven refineries add to the positive sentiment.
Overall, we believe Tesoro is well positioned going forward and view it as an attractive investment. Our $45 price target is based on a 2013 P/E multiple of 8.4x.