Deutsche Bank Starts Teekay Tankers (TNK) at Buy
Get Alerts TNK Hot Sheet
Rating Summary:
6 Buy, 6 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 14
Join SI Premium – FREE
Deutsche Bank initiated coverage on Teekay Tankers (NYSE: TNK) with a Buy rating and a price target of $7.00.
Analyst Amit Mehrotra said, "TNK’s fleet of 28 tankers (vast majority Crude Oil tankers) and 8 chartered-in vessels, together with increasing exposure to the spot market, position the company very well to benefit from a tanker market recovery. As such we forecast an almost tripling of EBITDA in 2016 (vs. 2013), driven by improving spot rates and increased ship count from chartered-in vessels. This, together with continued deleveraging, should drive significant upside to the stock."
For an analyst ratings summary and ratings history on Teekay Tankers click here. For more ratings news on Teekay Tankers click here.
Shares of Teekay Tankers closed at $3.99 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BofA Securities Starts GE Vernova (GEV) at Neutral, 'Multiyear turnaround amid positive demand backdrop'
- Citi Upgrades Sirius XM Radio (SIRI) to Neutral, 'risk-reward is balanced at prevailing levels'
- Berenberg Starts Deutsche Bank ADRs (DB) at Hold, Maintains Hold on German Shares
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, New CoverageRelated Entities
Deutsche Bank, Crude OilSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!