Teekay Tankers price target raised to $70 from $60 at Jefferies

Jefferies analyst Omar Nokta raised the firm’s price target on Teekay Tankers to $70 from $60 and keeps a Buy rating on the shares. Rising Red Sea diversions are having a significant impact on vessel capacity, which has been most felt in the container sector, but also increasingly seen across tankers, says the analyst, who anticipates record Q4 results from LPG players, sequentially stronger results for tankers and dry bulk, and steady earnings for LNG. While the firm previews weak results for containers, it sees this being coupled with improved guidance, the analyst added in a Shipping sector preview.