BofA Merrill Lynch has become the latest investment bank to upgrade its view on aframax tanker specialist Teekay Tankers.
Analyst Ken Hoexter believes the stock can “re-rate higher” despite an 83% increase in the tanker owner’s shares since October.
He said crude tanker markets are currently in the “early stages of a robust recovery” and the company offers “attractive operating leverage” to rate inflections.
