tiprankstipranks
Scorpio Tankers price target raised to $65 from $55 at Deutsche Bank
The Fly

Scorpio Tankers price target raised to $65 from $55 at Deutsche Bank

Deutsche Bank raised the firm’s price target on Scorpio Tankers to $65 from $55 and keeps a Hold rating on the shares. The analyst notes that the speed of asset price appreciation in newbuilding tankers has slowed in recent months from a year-over-year perspective. Asset values were quickly adjusting to the new forward-looking rate environment during 2022, but have now started to stall, the analyst tells investors in a research note. As such, the firm is not pricing in further significant fleet asset price appreciation into the sector’s 12-month price targets.

Published first on TheFly

See Insiders’ Hot Stocks on TipRanks >>

Read More on STNG:

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles