Teekay Offshore Partners (TOO) Stock Rating Upgraded by Morgan Stanley
Teekay Offshore Partners (NYSE:TOO) was upgraded by investment analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a report released on Monday, MarketBeat.com reports. The firm presently has a $3.00 target price on the shipping company’s stock. Morgan Stanley’s target price points to a potential upside of 19.52% from the stock’s current price.
A number of other analysts have also commented on the company. Zacks Investment Research lowered Teekay Offshore Partners from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 15th. ValuEngine raised Teekay Offshore Partners from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, UBS Group reduced their target price on Teekay Offshore Partners from $3.00 to $2.75 and set a “buy” rating for the company in a report on Wednesday, November 15th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $4.15.
Shares of Teekay Offshore Partners (NYSE:TOO) opened at $2.51 on Monday. The company has a market capitalization of $1,030.00, a price-to-earnings ratio of -1.79, a price-to-earnings-growth ratio of 1.01 and a beta of 2.75. Teekay Offshore Partners has a fifty-two week low of $1.65 and a fifty-two week high of $6.16. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.90.
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About Teekay Offshore Partners
Teekay Offshore Partners L.P. is a provider of marine transportation, oil production, storage, long-distance towing and offshore installation and maintenance and safety services to the offshore oil industry in North Sea, Brazil and the East Coast of Canada. The Company operates shuttle tankers; towage vessels; floating, production, storage and off-loading (FPSO) units; floating storage and off-take (FSO) units; units for maintenance and safety (UMS); long-distance towing and offshore installation vessels, and conventional crude oil tankers.
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