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Fly News Breaks for October 17, 2019
STNG
Oct 17, 2019 | 04:55 EDT
Stifel analyst Benjamin Nolan downgraded Scorpio Tankers to Hold from Buy with a price target of $37, up from $32. The shares are up 100% year-to-date- on the hope that IMO 2020 would bring much better product tanker charter rates, Nolan tells investors in a research note. While the analyst expects "better days" ahead for the product tanker market, he believes Scorpio Tankers shares now anticipate "at least much of this improvement." He sees less than 10% upside from current stock levels.
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