BofA analyst Ken Hoexter lowered the firm’s price target on Scorpio Tankers (STNG) to $67 from $73 and keeps a Buy rating on the shares after Ukraine reportedly agreed to the “core terms” of a U.S. peace proposal with Russia. If sanctions unwind, the company expects MR and Handymax rates to increase slightly as it gains access to the Russian market, yet it anticipates LR2 rates will decrease from lower ton-miles from the Middle East, noted the analyst. The firm maintains its FY25 EPS estimate of $5.70, but lowered its FY26 and FY27 EPS estimates 14% and 16% to $6.10 and $5.10, respectively.
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