Scorpio Tankers (STNG) PT Raised to $69 at BofA Securities

BofA Securities analyst Ken Hoexter raised the price target on Scorpio Tankers (NYSE: STNG) to $69.00 (from $66.00) while maintaining a Buy rating.

The analyst comments "Scorpio Tankers (STNG) posted 3Q25 adj EPS of $1.49, down 15% year-year, below our $1.62, but above Street’s $1.46. Fleet Time-Charter Equivalent (TCE) rates for 3Q25 was $26k/day, slightly below our $27k/day target. Rates demonstrated counter-seasonal strength due to tightened supply/demand balance from the unwind of OPEC+ production cuts (2.2 mil bpd of cuts “unwound” across Apr-Sep) and EU sanctions on Russia. Additionally, results were impacted by higher voyage expenses vs our target ($8 mil vs. our $1 mil target, -0.15/share). Rates are softer in STNG’s 4Q bookings-to-date due to refinery maintenance. However, STNG believes it is now at the end of refinery turnarounds and it expects 5 million barrels of capacity to return in Nov. The company has booked 44%/46%/35% of its 4Q25 spot LR2/MR/Handymax Revenue Days (46%/43%/11% of STNG’s revenues by vessel category) at $28.5k/day, $23.5k/day, and $20.5k/day, respectively. Those bookings are slightly below our prior full 4Q25 targets (we adjust our 4Q TCE target to $27k/day, from $28k/day). Still, we expect rates to accelerate into latter 4Q25, as we progress into the seasonally strong winter period, along with OPEC+ production hikes through Nov, and recent US sanctions on Russia."

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