Analyst Price Target Update on Teekay Corporation (NYSE:TK)

Teekay Corporation (NYSE:TK) stock has received a short term price target of $ 8.67 from 3 Analyst. The share price can be expected to fluctuate from the mean short term target, can be seen from the standard deviation reading of $0.58. The higher estimate of target price is $9 , while the lower price target estimate is $8

Many analysts have stated their opinion on the company shares. Morgan Stanley maintains its view on Teekay Corporation (NYSE:TK) according to the research report released by the firm to its investors. The shares have now been rated Equal-weight by the stock experts at the ratings house. Morgan Stanley raises the price target from $7 per share to $8 per share on Teekay Corporation. The rating by the firm was issued on May 31, 2016. Company shares have received an average consensus rating of Hold for the current week

Teekay Corporation (NYSE:TK) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.59 points or 6.81% at $8.07 with 1,887,796 shares getting traded. Post opening the session at $8.47, the shares hit an intraday low of $8.02 and an intraday high of $8.69 and the price was in this range throughout the day. The company has a market cap of $686 million and the number of outstanding shares have been calculated to be 85,000,000 shares. The 52-week high of Teekay Corporation (NYSE:TK) is $46.04 and the 52-week low is $4.37.

Teekay Corporation (Teekay) is a provider of crude oil and gas marine transportation services. The Company also offers offshore oil production, storage and offloading services, primarily under long-term, fixed-rate contracts. The Company is engaged in the liquefied natural gas (LNG) and liquefied petroleum gas (LPG) shipping sectors through its subsidiary Teekay LNG Partners L.P. (Teekay LNG). The Company is engaged in the operations in the offshore production, storage and transportation sector through its subsidiary Teekay Offshore Partners L.P. (Teekay Offshore) and through its interest in Teekay Petrojarl AS. It is also engaged in the conventional tanker business through its subsidiary Teekay Tankers Ltd. (Teekay Tankers). The Company has four primary lines of business, which consist of offshore logistics, offshore production, liquefied gas carriers and conventional tankers.

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