On June 2, 2017, Barclays resumed its coverage of Tesoro Logistics (TLLP) with an “overweight” rating. Barclays has given TLLP a target price of $65.
Of the analysts surveyed by Reuters, 74% have rated Tesoro Logistics as a “buy,” and the remaining 26% have rated it as a “hold.” None of the analysts surveyed have rated TLLP as a “sell.”
The above graph shows the ratings changes for TLLP over the last year. The median target price for Tesoro Logistics is $62. This target price implies a 22% price return for TLLP in the next year.
Tesoro Logistics’ sponsor, Tesoro (TSO), recently completed its acquisition of Western Refining. Tesoro and Tesoro Logistics will be renamed Andeavor and Andeavor Logistics, respectively, effective August 1, 2017.
LGCY, EVEP ratings update
On June 8, 2017, Stifel cut its price target for Legacy Reserves (LGCY) from $2 to $1 and downgraded it from a “hold” to a “sell.” On the same day, it cut its target price for EV Energy Partners (EVEP) from $1.25 to $0.5, downgrading it from a “hold” to a “sell.”
Consumer product companies exceeded Wall Street’s estimates during their last reported quarters, thanks to cost-saving measures.
CannTrust (CTST) announced that it's scheduled to report its fourth-quarter earnings on March 28 before the market opens.
Yesterday, Apple (AAPL) launched a newly upgraded range of its iPad Air and iPad mini devices ahead of its March 25 special event.
Nike (NKE) is scheduled to report its earnings results for the third quarter of fiscal 2019 after the market closes on March 21.
On March 18, Chesapeake Energy’s (CHK) implied volatility was 51.9%, which is ~14.7% less than its 15-day average.
Sprint (S) reported an adjusted EPS of $0.06 in the first nine months of fiscal 2018—compared to $0.08 during the same period in fiscal 2017.
On March 18, Brent crude oil May futures settled ~$8.2 higher than the WTI crude oil May futures. On March 11, the spread was ~$9.5.