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Fly News Breaks for October 23, 2019
TNK
Oct 23, 2019 | 08:09 EDT
Jefferies analyst Randy Giveans upgraded Teekay Tankers to Buy from Hold with a price target of $2.50, up from $1.50. The analyst increased his price targets for all tanker companies saying asset values are starting to reflect the "massive increases" in charter rates. Teekay Tankers had the largest price target increase on a percentage basis. The analyst expects OPEC production surprises to the upside to cause crude oil tanker demand and correspondingly crude oil tanker charter rates and asset values to strengthen.
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