Teekay Tankers price target raised to $55 from $41 at BofA

BofA raised the firm’s price target on Teekay Tankers (TNK) to $55 from $41 and keeps an Underperform rating on the shares. The firm raised the multiple target it applies to its revised 2026 EBITDA estimate to the midpoint of its historical range as rates remain elevated, but remains concerned on the potential influx of capacity if sanctions are lifted as well as the eventual reopening of the Red Sea, the analyst tells investors.