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

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Markets Little Changed In Low Volume And Slow News Ahead Of Long Weekend
Scorpio Tankers Inc. Announces An Agreement To Purchase A Newbuilding MR Product Tanker For $37.1M And Deliveries Of Two MR Product Tankers

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
Aug 2014Credit SuisseUpgradesNeutralOutperform
Jun 2014DNBDowngradesBuySell
Apr 2014JefferiesMaintainsBuy

View More Analyst Ratings for STNG
View the Latest Analyst Ratings

Posted-In: DNB MarketsAnalyst Color Price Target Analyst Ratings

 

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