Market Overview

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

Related STNG
Can Investors Profit From Friday's Rumors?
Scorpio Tankers Announces Update on Fleet Transactions

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.

Posted-In: DNB MarketsAnalyst Color Price Target Analyst Ratings

 

Most Popular

Related Articles (STNG)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free