UPDATE: RS Platou Markets AS Raises PT to $9 on Scorpio Tankers on Equity Raise, New Tanker Buys

RS Platou Markets AS reiterated its Buy rating on Scorpio Tankers

and increased its price target from $8 to $9. RS Platou Markets AS commented, "Scorpio Tankers announced yesterday that they have placed an order for 6x MR tankers in Korea with 2014 delivery and secured options for another 8 tankers. The equity raise was accretive on NAV while the fleet expansion is accretive on mid-cycle earnings. Consequently we raise our target price to USD 9 per share and reiterate our view that STNG is a favourite pure product tanker play, with sound market recovery upside." Scorpio Tankers closed at $6.60 on Tuesday.