Jefferies analyst Omar Nokta raised the firm’s price target on Scorpio Tankers to $65 from $60 and keeps a Buy rating on the shares. He is raising his estimates and price targets across his tanker coverage, citing the view that the sector’s earnings power has "strengthened materially" as charterers prepare for an EU ban on Russian crude oil imports. All tanker segments – including VLCCs, mid-size crude and the product classes – are "positioned for outsized earnings," Nokta contends.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on STNG:
- Scorpio Tankers management to meet with BTIG
- Scorpio Tankers Inc. Announces Notice of Redemption of 3.00% Convertible Senior Notes Due 2025
- Scorpio Tankers call volume above normal and directionally bullish
- Scorpio Tankers Inc. Announces the Exercise of Purchase Options on Eight Ships and Repayment of a Credit Facility
- Scorpio Tankers Inc. to Announce Third Quarter 2022 Results and Have a Conference Call on November 1, 2022