In a report released on October 26, Peter Christensen from Cleaves Securities maintained a Buy rating on Teekay Tankers (TNK – Research Report), with a price target of $63.00. The company’s shares closed last Friday at $48.89.
According to TipRanks, Christensen is a top 100 analyst with an average return of 30.7% and a 67.54% success rate. Christensen covers the Energy sector, focusing on stocks such as DHT Holdings, Frontline, and Nordic American Tanker.
Currently, the analyst consensus on Teekay Tankers is a Moderate Buy with an average price target of $58.00, implying a 18.63% upside from current levels. In a report released on October 24, Evercore ISI also maintained a Buy rating on the stock with a $64.00 price target.
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TNK market cap is currently $1.43B and has a P/E ratio of 3.15.
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Teekay Tankers (TNK) Company Description:
Teekay Tankers Ltd. engages in the provision of crude oil and refined petroleum products through the operation of its oil and product tankers. It operates through the Conventional Tanker and Ship-to-Ship (STS) Transfer segment. The Conventional Tanker segment includes the operations of all the tankers, including those employed on full service lightering contracts. The STS Transfer segment offers lightering support services provided to conventional tanker segment as part of the full service lightering operations. The company was founded in October 2007 and is headquartered in Hamilton, Bermuda.
