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UBS Initiates Coverage of Tesoro With $23 Target, Neutral Ra

Financial News Network
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June 28, 2011 AT 11:01 PM
UBS initiated coverage of Tesoro Corp (NYSE:TSO) today with a neutral rating and a $23 price target for the company.Shares of Tesoro are trading up 2.17% at $21.63.Tesoro has a potential upside of 35.3% based on a current price of $21.63 and an average consensus analyst price target of $29.27.Tesoro is currently below its 50-day moving average (MA) of $23.86 and should find support at its 200-day MA of $20.02.