Teekay Tankers (Buy, TP: USD61.00) - Throttle up on re-pricing launch
We expect solid mid-size tanker rates and find Teekay Tankers trading at a 50%+ discount to steel values. On our FCFE by end-2026e, the current cash position and end-of-period fleet value on historical average vessel values, we calculate 55% upside potential to the current share price, and believe a strong Q1 special DPS could be a near-term catalyst for the stock. We reiterate our BUY, but have reduced our target price to USD61 (62).
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.