BofA analyst Ken Hoexter downgraded Teekay Tankers (TNK) to Underperform from Neutral with a price target of $46, down from $51. The firm sees rising risk in international shipping, including container liners and crude and product tankers, on a potential easing of geopolitical disruptions. This will add capacity and pressure rates, the analyst tells investors in a research note. BofA cites weaker pricing, rising orderbook, and easing disruptions for the downgrade of Teekay Tankers.
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