Teekay Offshore saw its shares surged Thursday after RBC Capital Markets upgraded its rating on the company's New York-listed stock.
The Teekay Corp spinoff's shares jumped 12.4% to close the day at $5.89, adding $69.7m of market capitalisation in a single trading session.
Earlier in the day, RBC analyst TJ Schultz hiked his rating of the company's shares to "outperform" from "sector perform", the equivalent of a step up from "neutral" to "buy".
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