Deutsche Bank Downgrades Teekay Tankers (TNK) to Hold

Deutsche Bank downgraded Teekay Tankers (NYSE: TNK) from Buy to Hold, price target lowered from $12 to $9.

Deutsche analyst says, "While TNK trades at a material premium to the group, we believe this is the result of its high current dividend yield of 12.1%. However, we see the possibility for volatile dividends over the coming year. If the market remains weak and current fixed charters roll-off, its distributions could decline and there will likely be limited upside to the shares."

For more ratings news on Teekay Tankers click here and for the rating history of Teekay Tankers click here.

Shares of Teekay Tankers closed at $8.39 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Teekay Tankers (TNK) PT Raised to $66 at BofA Securities
• Masonite (DOOR) Shareholders Approve Transaction with Owens Corning (OC)
• Walgreens Boots Alliance (WBA) Declares $0.25 Quarterly Dividend; 5.7% Yield