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UPDATE: Imperial Capital Initiates Outperform, $8.75 PT on Scorpio Tankers; Tanker Pure Play

Related STNG
Benzinga's Top Upgrades
Swedbank Upgrades Scorpio Tankers To Buy

Imperial Capital initiates an Outperform rating with a price target of $8.75 a share on Scorpio Tankers (NYSE: STNG).

Imperial Capital comments, "We are initiating coverage of Scorpio Tankers with an Outperform rating on the common stock and a one-year price target of $8.75, which represents 56% potential upside from current levels. Scorpio is a pure play in product tankers, which transport refined oil products across the world. We believe the fundamentals in the product tanker market are improving and could lead to significant earnings upside for Scorpio given the young age of the expanding fleet and significant spot exposure. Additionally, we think the company has the liquidity and balance sheet to withstand the current volatility and position itself as a leading player in the product tanker market. At a recent stock price of $5.60, we believe Scorpio is trading below net asset value of $7.34."

STNG closed at $5.60 on Wednesday.

Latest Ratings for STNG

DateFirmActionFromTo
Nov 2014MLV & Co.Initiates Coverage onBuy
Nov 2014SwedbankUpgradesNeutralBuy
Oct 2014DNB MarketsUpgradesSellHold

View More Analyst Ratings for STNG
View the Latest Analyst Ratings

Posted-In: imperial capitalAnalyst Color Price Target Initiation Pre-Market Outlook Analyst Ratings

 

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