BofA downgrades Teekay Tankers to 'underperform' rating

Teekay Tankers

13/11/2024 18:36

** BofA downgrades shipping company Teekay Tankers'  TNK.N 
shares to "underperform" from "neutral" rating
    ** Brokerage says a potential easing of geopolitical
disruptions to pressure rates
    ** BofA cuts PT to $46 from $51
    ** 6 of 7 brokerages rate the stock "buy" or higher, 1
"hold"; their median PT is $68.50 - LSEG data
    ** Including session's moves, stock down ~8.5% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)
 ((Prakhar.srivastava2@thomsonreuters.com))