UBS AG Upgrades Tesoro to Buy (TSO)
Tesoro (NYSE: TSO) was upgraded by investment analysts at UBS AG (NYSE: UBS) from a “neutral” rating to a “buy” rating in a note issued to investors on Friday. The firm currently has a $33.00 target price on the stock, up from their previous target price of $30.00.
Shares of Tesoro traded down 2.71% during mid-day trading on Friday, hitting $21.88. Tesoro has a one year low of $17.43 and a one year high of $30.15. The company has a market cap of $3.052 billion and a P/E ratio of 6.49.
Tesoro last issued its quarterly earnings data on Wednesday, May 2nd. The company reported $0.39 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.29 by $0.10. Tesoro’s revenue was up 19.8% compared to the same quarter last year. On average, analysts predict that Tesoro will post $1.53 earnings per share next quarter.
TSO has been the subject of a number of other recent research reports. Analysts at Barclays Capital (NYSE: BCS) reiterated an “overweight” rating on shares of Tesoro in a research note to investors on Tuesday, May 22nd. Separately, analysts at Bank of America (NYSE: BAC) upgraded shares of Tesoro from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, May 10th. Finally, analysts at Dahlman Rose initiated coverage on shares of Tesoro in a research note to investors on Thursday, April 26th. They set a “buy” rating and a $33.00 price target on the stock.
Tesoro Corporation (Tesoro) is an independent petroleum refiners and marketers in the United States. The Company’s subsidiaries, operating through two business segments: manufacture and sell transportation fuels.