Analyst Magnus Fyhr has placed a buy rating on the tanker owner and boosted his target price from $7.00 to $10.00 per share.
It came as the analyst upgraded his tanker rate forecasts and suggested it was time to buy up tanker stocks ahead of a winter rally.
With the crude market running at its best level since 2008, Fyhr has boosted his VLCC rate forecast for 2015 from $45,000 per day to $52,000 per day.
His suezmax and aframax rates expectations have been elevated to $44,000 and $34,000 per day, from $33,000 and $25,000 per day respectively.
Based on these estimates, Teekay Tankers is heading for a profit of $184.8m this year, Fyhr forecasts.
With cash flowing in the analyst notes the company has over $200m in liquidity to pursue acquisitions, with its shares providing further currency to support a deal.
Teekay is once again believed to be the front runner in the chase for the Princimar suezmax fleet of 12 ships, TradeWinds reported on Friday.
