Analyst Rating Update on Teekay Corporation (TK)

Teekay Corporation (NYSE:TK) : Zacks Investment Research ranks Teekay Corporation (NYSE:TK) as 2, which is a Buy recommendation. 1 other analysts are mildly bullish on the stock and favor a Buy. A total of 5 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 6 research analysts is 2.83, which indicates as a Hold.

Teekay Corporation (NYSE:TK) : Currently there are 3 street experts covering Teekay Corporation (NYSE:TK) stock. The most bullish and bearish price target for the stock is $9 and $8 respectively for the short term. The average price target of all the analysts comes to $8.67. The estimated standard deviation from the target is $0.58.

Company shares have received an average consensus rating of Hold for the current week Also, In a research note released to the investors, Morgan Stanley maintains its rating on Teekay Corporation (NYSE:TK).The analysts at the brokerage house have a current rating of Equal-weight on the shares. In a recent information released to the investors, Morgan Stanley raises the new price target from $7 per share to $8 per share. The rating by the firm was issued on May 31, 2016.

Teekay Corporation (NYSE:TK): stock turned positive on Tuesday. Though the stock opened at $6.98, the bulls momentum made the stock top out at $7.2 level for the day. The stock recorded a low of $6.87 and closed the trading day at $7.03, in the green by 4.61%. The total traded volume for the day was 2,343,008. The stock had closed at $6.72 in the previous days trading.

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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