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Jefferies Believes Teekay Tankers (TNK) Still Has Room to Grow

In a report released today, Omar Nokta from Jefferies maintained a Buy rating on Teekay Tankers (TNKResearch Report), with a price target of $28.00. The company’s shares closed last Wednesday at $22.69, close to its 52-week high of $22.93.

According to TipRanks.com, Nokta is a 5-star analyst with an average return of 17.8% and a 68.8% success rate. Nokta covers the Industrial Goods sector, focusing on stocks such as ZIM Integrated Shipping Services, Navios Maritime Partners, and Nordic American Tanker.

Teekay Tankers has an analyst consensus of Moderate Buy, with a price target consensus of $23.58.

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The company has a one-year high of $22.93 and a one-year low of $9.89. Currently, Teekay Tankers has an average volume of 403.3K.

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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. 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.

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