Stifel analyst Benjamin Nolan made no change to the firm’s Buy rating or $73 price target on Scorpio Tankers after the company provided an update on Q4. Activity in the quarter had better rates than the Street expected, with rates much higher for MRs and Handys and lower for LR2s, the analyst tells investors in a research note. The firm expects shares to trade higher today.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on STNG:
- Scorpio Tankers Inc. Announces Updates on Fourth Quarter 2023 Daily TCE Revenues and Debt and Lease Activity
- Scorpio Tankers price target raised to $70 from $62 at Deutsche Bank
- Scorpio Tankers increases quarterly dividend to 35c per share
- Scorpio Tankers board replenishes $250M securities repurchase program
- Scorpio Tankers reports Q3 adjusted EPS $1.91, consensus $1.52
