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Re: Timothy Smith post# 520

Friday, 05/03/2013 6:22:20 AM

Friday, May 03, 2013 6:22:20 AM

Post# of 552
39% gain since I called this buy in October 2012. Continued upside anticipated.

12-month price target: US$72.00

Catalyst: 2Q13 fundamentals trends, FTC decision on the Carson acquisition.

I find it very bullish, TSO based on exposure to many positive catalysts ahead. Valuation remains attractive with shares trading at EV/EBITDA of 3.5x and 2.8x on our 2013-14 estimates, respectively.

Tesoro reported adjusted 1Q13 EPS of US$0.73, in line with our US$0.73 estimate. TSO’s Mid-Continent system showed its strength again by contributing 47% of total refining segment operating income.

Oil & Gas | OTCBB | OTCQB | Pink Sheets

Purely my own opinion. This is not investment advise and do your own due diligence.

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