Bank of America Upgrades Tesoro to Buy (TSO)

By admin | 6 years ago

Tesoro (NYSE: TSO) was upgraded by research analysts at Bank of America (NYSE: BAC) from a “neutral” rating to a “buy” rating in a report released on Thursday.

Shares of Tesoro traded down 1.09% during mid-day trading on Thursday, hitting $22.68. Tesoro has a one year low of $17.43 and a one year high of $30.15. The company has a market cap of $3.164 billion and a P/E ratio of 6.62.

Tesoro last issued its quarterly earnings data on Wednesday, May 2nd. The company reported $0.39 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.29 by $0.10. The company’s quarterly revenue was up 19.8% on a year-over-year basis. On average, analysts predict that Tesoro will post $1.54 earnings per share next quarter.

Several other analysts have also recently commented on the stock. 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. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Tesoro in a research note to investors on Thursday, April 19th. They now have a $24.00 price target on the stock. Finally, analysts at Raymond James (NYSE: RJF) upgraded shares of Tesoro from an “underperform” rating to a “market perform” rating in a research note to investors on Monday, March 26th.

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.

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