UPDATE: Deutsche Bank Raises Target on Teekay Tankers to $5
Deutsche Bank raises its price target on Hold-rated Teekay Tankers (NYSE: TNK) to $5, up $1, as the company looks to expand its fleet.
Deutsche Bank says, "TNK announced an adjusted Q4 EPS loss of $0.02, inline with our estimate and below Consensus at $0.00. The adjusted results excluded $0.7 million ($0.01/share) of unrealized gains on interest rate swaps and were generally inline with our revenue and operating income estimates. While TNK is looking to expand its fleet, given our muted crude and product tanker outlook, we remain sidelined at current valuations."
TNK closed at $4.35 a share on Thursday.
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