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Stock impact report

Product Tanker Rates Offer Near-Term Momentum to Scorpio Tankers Inc. (STNG) [Yahoo! Finance]

Scorpio Tankers Inc. Common Shares (STNG) 
Last scorpio tankers inc. common shares earnings: 2/19 06:40 am Check Earnings Report
Company Research Source: Yahoo! Finance
On February 16, the price target for Scorpio Tankers Inc. (NYSE:STNG) was increased from $56 to $61 by BofA analyst Ken Hoexter, who maintained an Underperform rating on the stock. Product Tanker Rates Offer Near-Term Momentum to Scorpio Tankers Inc. (STNG) While near-term momentum in product tanker rates aided the target multiple, it still remains below the stock's 5-year midpoint range. This is underpinned by a rising capacity outlook, the potential unwinding of sanctions against Russia, and the likelihood of peak rates. On February 13, B. Riley analyst Liam Burke increased the firm's price target on Scorpio Tankers Inc. (NYSE:STNG) from $80 to $90. The analyst maintained his Buy rating on the shares, implying an upside of almost 18%. Scorpio Tankers reported fourth quarter time charter equivalent revenue of $241.4 million, reflecting solid year-over-year growth and exceeding market expectations. Average daily TCE per vessel climbed to $28,066, while adjusted EBITDA reached Show less Read more
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