UPDATE: Deutsche Bank Lowers Teekay's PT
According to a research report published this morning, Deutsche Bank has lowered Teekay's (NYSE: TK) PT from $42 to $39.
In the report, Deutsche Bank said, " Last week, TK reported a Q1 adjusted loss of $0.30, a penny better than our estimated loss of $0.31, and ahead of Consensus at a loss of $0.36. While revenue came in modestly below our estimate, this was offset by lower operating and interest expenses as well as higher equity income. TK declared its regular $quarterly dividend of 0.31625/share last month, achieving a current annualized dividend yield of 4.3% as of May 21. Given its leverage to the offshore and LNG segments as well as its discount to its sum-of-the-parts valuation, we are maintaining TK's Buy rating."
Teekay is currently trading at $29.64.
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