Morgan Stanley Reiterates Equal-Weight, Raises PT On Scorpio Tankers On Profitable 4Q14 Results

In a report published Wednesday, Morgan Stanley analyst Fotis Giannakoulis reiterated an Equal-Weight rating on

, and raised the price target from $9.00 to $9.50. In the report, Morgan Stanley noted, "STNG reported profitable 4Q14 results, slightly below consensus estimates. Product tanker rates have rallied recently as low oil prices and strong global refinery margins increase trading activity. Raising PT to $9.50." Scorpio Tankers closed on Tuesday at $9.05.