Tesoro Corp. Given New $55.00 Price Target at Morgan Stanley (TSO)
Morgan Stanley dropped their price target on shares of Tesoro Corp. (NYSE:TSO) from $65.00 to $55.00 in a research note issued on Tuesday, American Banking and Market News reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 27.61% from the company’s current price.
Shares of Tesoro Corp. (NYSE:TSO) traded down 2.00% during mid-day trading on Tuesday, hitting $43.10. The stock had a trading volume of 4,111,293 shares. Tesoro Corp. has a 1-year low of $35.28 and a 1-year high of $65.75. The stock’s 50-day moving average is $46.77 and its 200-day moving average is $53.27. The company has a market cap of $5.853 billion and a price-to-earnings ratio of 9.97.
Tesoro Corp. (NYSE:TSO) last announced its earnings results on Thursday, August 1st. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.10. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the previous year, the company posted $2.87 earnings per share. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, analysts predict that Tesoro Corp. will post $4.18 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse cut their price target on shares of Tesoro Corp. (NYSE:TSO) from $71.00 to $65.00 in a research note to investors on Tuesday, September 10th. They now have an “outperform” rating on the stock. Separately, analysts at Simmons downgraded shares of Tesoro Corp. (NYSE:TSO) from an “overweight” rating to a “neutral” rating in a research note to investors on Monday, September 9th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Tesoro Corp. (NYSE:TSO) in a research note to investors on Thursday, September 5th. They now have a $49.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $67.15.
Tesoro Corporation (NYSE:TSO) is an independent petroleum refiners and marketers in the United States.
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