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.”