Deutsche Bank Starts Teekay Tankers (TNK) at Buy

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.

You May Also Be Interested In

• BRF - Brasil Foods S.A. (BRFS3:BZ) (BRFS) PT Raised to BRL19 at Itau BBA
• Evercore ISI starts 'accelerating AI play' AMD (AMD) at Outperform
• Hexcel Corp. (HXL) PT Lowered to $86 at Stifel