JPMorgan analyst Samuel Bland raised the firm’s price target on Scorpio Tankers to $86 from $85 and keeps an Overweight rating on the shares. The analyst says Red Sea-related disruptions are now having a sharp impact on tanker rates, particularly in the smaller categories and for product tankers. The firm materially increased 2024 forecasts for Scorpio Tankers, citing the company’s relatively high exposure to areas of rising rates.
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Read More on STNG:
- Scorpio Tankers Inc. Announces that on February 14, 2024 the Company will Issue Fourth Quarter 2023 Results and have a Conference Call
- Scorpio Tankers price target raised to $76 from $73 at Stifel
- Scorpio Tankers put volume heavy and directionally bearish
- Scorpio Tankers call volume above normal and directionally bullish
- Scorpio Tankers price target raised to $72 from $70 at BofA
