Report
Jørgen Lian
EUR 95.03 For Business Accounts Only

Teekay Tankers (Buy, TP: USD56.20) - Mid-sized tankers defying gravity

We have raised our estimates on persistently strong mid-sized tanker rates, which seem to be defying seasonal gravity, and demand headwinds from incoming OPEC+ cuts, which to us bodes well for the seasonally stronger H2 earnings amid unusually strong supply-side fundamentals. We reiterate our BUY and have raised our target price to USD56.2 (55.7).
Underlying
Teekay Tankers

Provider
DnB Markets
DnB Markets

DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.

 

Analysts
Jørgen Lian

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