UPDATE: RS Platou Markets Raises PT to $12 on Scorpio Tankers on Strong Growth Outlook

RS Platou Markets maintained Scorpio Tankers

with a Buy rating and raised the price target from $11.00 to $12.00. RS Platou Markets commented, "We continue to recommend STNG as one of our top picks. Aggressive growth at historically low prices, with eco design offering highly attractive risk-reward, gives great upside to shareholders as newbuilds are delivered in a recovering market. We estimate EPS of USD 0.95 on 20 year average rates in 2015, increasing to USD 1.2 on the assumption that the Company deploys the remaining equity raised in January. Based on mid-cycle asset values, one could argue for a USD 12 target." Scorpio Tankers closed at $8.49 on Tuesday.