Market Overview

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

Share:
Related STNG
30 Stocks With Three-Day Increasing Volume
15 Stocks Which Rallied Three Days On Increasing Volume

RS Platou Markets reiterated its Buy rating on Scorpio Tankers (NYSE: STNG) and increased its price target from $8 to $9.

RS Platou Markets 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.

Latest Ratings for STNG

DateFirmActionFromTo
Jul 2016JefferiesMaintainsBuy
Jul 2016UBSDowngradesBuyNeutral
Jul 2016ABN AmroUpgradesSellHold

View More Analyst Ratings for STNG
View the Latest Analyst Ratings

Posted-In: RS Platou Markets ASAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (STNG)

View Comments and Join the Discussion!