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Fly News Breaks for June 18, 2018
TNK
Jun 18, 2018 | 06:07 EDT
Wells Fargo analyst Michael Webber upgraded Teekay Tankers to Outperform and raised his price target for the shares to $2.00 from $1.50. The analyst believes the Tanker group is "uniquely positioned" to benefit from both a likely OPEC production increase in June and "potentially significant" IMO 2020 tailwinds. IMO 2020-driven ton-mile and floating storage catalysts could create a "thematic bid for the sector," with near-trough level net asset values helping to limit downside risks, Webber tells investors in a research note.
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