BofA analyst Ken Hoexter raised the firm’s price target on Scorpio Tankers to $85 from $82 and keeps a Neutral rating on the shares. Scorpio Tankers on Monday provided Q2-to-date time-charter equivalent rates for 80%-90% of Q2 available days that were significantly ahead of the firm’s estimates, implying a Q2 fleet TCE average of approximately $42,290/day, the analyst tells investors in a research note.
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