Analyst Rating Update on Scorpio Tankers (STNG)

Scorpio Tankers (STNG) : The consensus on Scorpio Tankers (STNG) based on 9 analyst recommendation on the company stock is 1.44, which is interpreted as a Strong Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 7 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 2 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Scorpio Tankers (STNG) : The most positive equity analysts on Scorpio Tankers (STNG) expects the shares to touch $13, whereas, the least positive believes that the stock will trade at $5 in the short term. The company is covered by 10 Wall Street Brokerage Firms. The average price target for shares are $8.3 with an expected fluctuation of $2.31 from the mean.

For the current week, the company shares have a recommendation consensus of Buy. Also, Equity Analysts at the Jefferies maintains the rating on Scorpio Tankers (NYSE:STNG). The brokerage firm has issued a Buy rating on the shares. The Analysts at the ratings agency lowers the price target from $10 per share to $7 per share. The rating by the firm was issued on July 27, 2016.


Scorpio Tankers (NYSE:STNG): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $4.73 and $4.70 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.07. The buying momentum continued till the end and the stock did not give up its gains. It closed at $4.90, notching a gain of 4.03% for the day. The total traded volume was 4,253,445 . The stock had closed at $4.71 on the previous day.

Scorpio Tankers Inc. is a provider of seaborne transportation of refined petroleum products and crude oil to the international shipping markets. The Companys fleet consists of 66 wholly owned tankers (10 LR2 tankers, two LR1 tankers, 15 Handymax tankers and 39 MR tankers) with a weighted average age of approximately 1.1 years and 20 time chartered-in tankers, which it operate (seven Handymax tankers, three MR tankers, five LR1 tankers and five LR2 tankers). In addition, the Company has contracts for the construction of 14 newbuilding product tankers (six MR tankers and eight LR2 tankers) (Newbuilding Program). The Companys total oil tanker fleet (crude, products and product/chemical tankers) consisted of 3,138 ships with a combined capacity of 407 million deadweight tonnage.

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