Jefferies analyst Omar Nokta maintains $Teekay Tankers (TNK.US)$ with a buy rating, and adjusts the target price from $76 to $60.
According to TipRanks data, the analyst has a success rate of 62.7% and a total average return of 17.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Teekay Tankers (TNK.US)$'s main analysts recently are as follows:
Rising risks in international shipping, notably among container liners and crude and product tankers, are anticipated due to a potential calming of geopolitical disruptions. Such an easing is expected to increase capacity and put downward pressure on rates. Weaker pricing, an expanding orderbook, and the resolution of disruptions are contributing to concerns regarding Teekay Tankers.
Tanker stocks have relinquished their gains from earlier in the year and are currently 5% lower. This trend is largely attributed to a tepid spot market, which is the principal factor dampening investor sentiment. Following revisions to Q3 estimates, subsequent amendments to Q4 are now causing apprehension about prospects for the year ahead. Observations on the sector have prompted a broad reassessment of expectations.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
