Player Avatar TMFDeej (99.24) Submitted: 1/10/2013 2:35:31 PM : Outperform Start Price: $41.51 TSO Score: +4.82

Refiners in general have been on quite a run lately, benefitting from the massive spread between Brent and WTI. As a west coast refiner, Tesoro hasn't benefitted much from that trend. I am somewhat familiar with the sector from my current holding, PSX.One of the best investors of our generation, Dan Loeb, recently initiated a position in TSO. Loeb believes that the company's shares could double. At less than three times EBITDA, Tesoro has hidden assets in pipelines, and management that's starting to make more shareholder friendly moves. It's acquisition on BP's Carson refinery looks super cheap.Whether on its own,mor spurred by Loeb, if TSO's management continues plowing money into buy backs or dividends this undervalued stock should rise.Deej

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