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Fly News Breaks for May 19, 2016
TSO
May 19, 2016 | 05:55 EDT
UBS analyst Spiro Dounis started Tesoro with a Buy rating and $100 price target after initiating the U.S. refiners space with a cautious outlook. The analyst does not expect the record crack spreads witnessed over the last several years to repeat. He believes, however, that Tesoro's "growing marketing and midstream footprint" will drive multiple expansion.
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