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UPDATE: DNB Markets Reiterates Buy Rating, Raises PT on Scorpio Tankers

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In a report published Wednesday, DNB Markets reiterated its Buy rating on Scorpio Tankers (NYSE: STNG), and slightly raised its price target from $7.30 to $7.50.

DNB Markets noted, “Scorpio Tankers is, in our view, the only way to get exposure to a pure-play recovery in product tankers backed by a solid balance sheet, c70% of the fleet with modern design, and c70% of the owned fleet in the MR segment where asset values have risen 9% in two weeks.”

Scorpio Tankers closed on Tuesday at $6.60.

Latest Ratings for STNG

DateFirmActionFromTo
Jul 2015Bank of AmericaInitiates Coverage onBuy
Jul 2015JP MorganUpgradesNeutralOverweight
May 2015JP MorganInitiates Coverage onNeutral

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Posted-In: DNB MarketsAnalyst Color Price Target Analyst Ratings

 

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