Jefferies Starts Scorpio Tankers (STNG) at Buy

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Jefferies initiates coverage on Scorpio Tankers (NYSE: STNG) with a Buy. PT $9.00.

The firm comments, "We are initiating on STNG shares with a Buy rating and a 12-month price target of $9, based on the attractive fundamentals of the refined products tanker industry and Scorpio's attractive position within the industry, including the company's 100% modern product tanker fleet, 100% spot market coverage, and relatively strong balance sheet."

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 $5.60 yesterday, with a 52 week range of $4.28-$10.55.

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