BofA upgraded Scorpio Tankers (STNG) to Buy from Underperform with a price target of $100, up from $76, citing the sustainability of high rates and inventory replenishment needs. The firm expects rates to decline, yet remain at a historically elevated level for the next few quarters, the analyst tells investors.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on STNG:
- Scorpio Tankers’ Earnings Call Flags Cash-Powered Upside
- Scorpio Tankers Posts Strong Q1 2026 Earnings, Hikes Buyback and Sells Vessels Amid Capital Reshuffle
- Scorpio Tankers price target raised to $96 from $93 at Evercore ISI
- Scorpio Tankers reports Q1 adjusted EPS $3.02, consensus $2.62
- STNG Upcoming Earnings Report: What to Expect?