Information Provided By:
Fly News Breaks for May 16, 2019
STNG
May 16, 2019 | 06:27 EDT
JPMorgan analyst Noah Parquette upgraded Scorpio Tankers to Overweight from Neutral and raised his price target for the shares to $34 from $29. The analyst says he's seen a considerable increase in interest from investors in the IMO 2020 product tanker story in recent weeks. As the largest owner of product tankers in the world, Scorpio Tankers "should benefit from this momentum," Parquette tells investors in a research note. Further, strength in product tanker rates could be seen in Q3 and Q4 as refineries exit maintenance periods and many ship owners begin filling their ships with low sulphur fuel before the actual switch date, adds the analyst. He sees a "reasonable path" to $34 per share by year-end.
News For STNG From the Last 2 Days
There are no results for your query STNG