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Upgrade Alert for Teekay Tankers (TNK)

By David Diaz

Teekay Tankers (NYSE:TNK) was upgraded from Hold to Buy at Deutsche Bank today. The stock closed yesterday at $6.92 on volume of 5.6 million shares, above average daily volume of 2.4 million.

Over the past year, Teekay Tankers has traded in a range of $4.04 to $8.53 and closed yesterday at $6.89, 71% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.7%.

Teekay Tankers (NYSE:TNK) has potential upside of 17.0% based on a current price of $6.89 and analysts' consensus price target of $8.06. The stock should find resistance at its 50-day moving average (MA) of $7.13, as well as support at its 200-day MA of $6.60.

Teekay Tankers Ltd. owns and operates a fleet of crude oil tankers, primarily in the aframax sector.

SmarTrend is monitoring the recent change of momentum in Teekay Tankers. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Teekay Tankers in search of a potential trend change.

Keywords: analyst upgrades/downgrades teekay tankers

Ticker(s): TNK