Deutsche Bank Downgrades Scorpio Tankers (STNG) to Hold

November 15, 2016 7:05 AM EST
Get Alerts STNG Hot Sheet
Price: $3.99 -1.24%

Rating Summary:
    11 Buy, 5 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
Trade STNG Now!
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.

Deutsche Bank downgraded Scorpio Tankers (NYSE: STNG) from Buy to Hold with a price target of $4.00 (from $9.00).

Analyst Amit Mehrotra said, "The revisions reflect an over 10% decline in asset values over the last six months and further deterioration in operating cash flows. We also see increased potential for a dividend cut over the next several months, from limited balance sheet flexibility (we est. LTV of 77%) and stillsignificant newbuilding capex (for which mgmt. continues to negotiate financing). While the company maintains strong operating leverage to longterm healthy product tanker fundamentals, the near/mid-term outlook is more uncertain, in our view, given the continued weakness in rates."

For an analyst ratings summary and ratings history on Scorpio Tankers click here. For more ratings news on Scorpio Tankers click here.

Shares of Scorpio Tankers closed at $3.91 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Analyst Comments, Analyst EPS View, Analyst PT Change, Downgrades

Related Entities

Deutsche Bank

Add Your Comment