Cleaves Securities Reaffirms Their Buy Rating on Teekay Tankers Ltd (TNK)


Cleaves Securities analyst Joakim Hannisdahl reiterated a Buy rating on Teekay Tankers Ltd (TNK) on October 14 and set a price target of $4.50. The company’s shares closed last Monday at $2.15, close to its 52-week high of $2.19.

According to TipRanks.com, Hannisdahl is a 4-star analyst with an average return of 28.0% and a 82.4% success rate. Hannisdahl covers the Services sector, focusing on stocks such as Golden Ocean Group Limited, Eagle Bulk Shipping Inc, and Nordic American Tanker.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Teekay Tankers Ltd with a $3.60 average price target.

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Based on Teekay Tankers Ltd’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $14.31 million. In comparison, last year the company had a GAAP net loss of $17.48 million.

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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.

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