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Fly News Breaks for February 14, 2017
STNG
Feb 14, 2017 | 07:33 EDT
As previously reported, Morgan Stanley upgraded Scorpio Tankers to Overweight from Equal Weight with a $5.50 price target. Analyst Fotis Giannakoulis said with the dividend cut by 92%, liquidity restored, and shares trading below NAV after losing 60% of value over the last 15 months, risk/reward is skewed to the upside. The analyst expects tanker fundamentals to improve as global inventories decline and US Gulf refinery activity drives additional exports.
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