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Fly News Breaks for June 9, 2017
TK
Jun 9, 2017 | 09:07 EDT
As previously reported, Morgan Stanley downgraded Teekay Corp. (TK) to Underweight from Equal Weight and lowered its price target to $3 from $8. Analyst Fotis Giannakoulis said the Teekay group continues to have liquidity erosion and due to continued weakness in the oil and offshore market, combined with a cyclical downturn in shipping of crude and sees risk from parent Teekay Offshore's (TOO) ability to meet its cash flow obligations.
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