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Fly News Breaks for March 24, 2017
TSO
Mar 24, 2017 | 07:34 EDT
As previously reported, Credit Suisse analyst Edward Westlake downgraded Tesoro to Neutral from Outperform saying his longer term view of refining margins remains relatively muted, and business has a more negative grey sky sensitivity than some peers given higher California operational costs and a greater share of R&M income, notwithstanding management's progress on diversification and retail integration. The analyst also lowered his price target on the shares to $93 from $110.
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