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Fly News Breaks for November 18, 2016
WNR, TSO
Nov 18, 2016 | 07:29 EDT
RBC Capital analyst Brad Heffern says that Tesoro's (TSRO) acquisition of Western Refining (WNR) is positive for Tesoro, given the increased exposure that the latter company will have to the Permian as well as synergies it will achieve in the Southwest and Midwest. The analyst says that the deal should boost the company's EPS by 10%-18%, but he adds that this estimate could be conservative if Tesoro delivers on its synergy targets. He raised his price target on Tesoro to $87 from $84 but keeps a Sector Perform rating on the shares.
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