Morgan Stanley has upgraded Teekay LNG Partners following a crash in the value of its units in the second half of 2018.
Analyst Fotis Giannakoulis raised the MLP to overweight today and reset his target price from $17.50 to $16.00 per unit.
Giannakoulis explained Teekay LNG saw its market value sliced by 45% in 2018 after a switch in capital allocation to paying down debt startled its yield-oriented investor base.
