B. Riley analyst Liam Burke raised the firm’s price target on Scorpio Tankers to $90 from $80 and keeps a Buy rating on the shares post the Q4 report. The analyst says rates remain elevated for all classes of Scorpio’s vessels, with LR2s seeing strong rates in Q1. The company is driving shareholder value in a strong rate environment, the analyst tells investors in a research note.
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Read More on STNG:
- Scorpio Tankers Inc. Announces Financial Results for the Fourth Quarter of 2023 and an Increase to its Quarterly Dividend
- Scorpio Tankers reports Q4 adjusted EPS $2.75, consensus $2.63
- STNG Earnings this Week: How Will it Perform?
- Scorpio Tankers price target raised to $86 from $85 at JPMorgan
- Scorpio Tankers Inc. Announces that on February 14, 2024 the Company will Issue Fourth Quarter 2023 Results and have a Conference Call
