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Fly News Breaks for July 2, 2019
STNG
Jul 2, 2019 | 07:35 EDT
BTIG analyst Gregory Lewis raised his price target for Scorpio Tankers to $38 from $30 and reiterated a Buy rating. In a research note to investors, Lewis says he believes it is still the early stages of a cyclical up-cycle in the product tanker market, and says he is "excited" about the potential impact from IMO 2020 on the on the product tanker market in terms of fuel service disruptions, evolving product tanker trade routes and vessel discrimination. The analyst expects the "ripples" of IMO 2020 to be felt for at least the next few years.
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