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Fly News Breaks for May 30, 2017
WNR, TSO
May 30, 2017 | 05:57 EDT
Morgan Stanley analyst Benny Wong upgraded Tesoro (TSO) to Overweight and raised its price target to $110 from $100. The analyst said Tesoro's the acquisition of Western Refining (WNR) diversifies growth, expands its integrated strategy, and a potential MLP restructuring would unlock value. Further, the analyst sees upside from a potential pickup in Permian margins, strong West Coast cracks, and synergies.
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