Goldman Sachs Downgrades Teekay Tankers (TNK) to Sell
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Price: $87.49 +2.77%
Rating Summary:
6 Buy, 6 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
Rating Summary:
6 Buy, 6 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
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Goldman Sachs downgraded Teekay Tankers (NYSE: TNK) from Neutral to Sell.
The firm said, "We expect the current downcycle for crude tankers to last longer than expected... We have been negative on tanker fundamentals since initiating coverage of the sector in Dec 2010 but believe that a prolonged downcycle is becoming clearer."
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 $9.79 yesterday.
The firm said, "We expect the current downcycle for crude tankers to last longer than expected... We have been negative on tanker fundamentals since initiating coverage of the sector in Dec 2010 but believe that a prolonged downcycle is becoming clearer."
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 $9.79 yesterday.
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