Energy Biz Rcape: Tesoro Wins Price Target Prize, Others Lose
Tesoro Corporation (NYSE:TSO) wins the price target war on Wednesday, reinforced by its purchase of a refinery in California in the midst of declining Gulf margins and fallen mid-continental crude spreads. Credit Suisse raised the firm’s price target from $50 to $53, but at the same time lowered its ratings for Phillips 66 (NYSE:PSX), Marathon Petroleum Corp. (NYSE:MPC), Delek US Holdings, Inc. (NYSE:DK) and Western Refining, Inc. (NYSE:WNR).
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