Deutsche Bank Starts Scorpio Tankers (STNG) at Hold

Deutsche Bank initiated coverage on Scorpio Tankers (NYSE: STNG) with a Hold rating and a price target of $9.00.

Analyst Amit Mehrotra said, "We view STNG shares as well balanced from a risk/reward standpoint. Its massive fleet offers strong operating leverage to rates, but also creates disproportionate risks if our assumptions prove too optimistic. Also the Co’s remaining capital commitments ($470M as of 3Q), div. policy (i.e., fixed), relative valuation (on both NAV and EBITDA basis), and related party agreements are likely to limit much upside from here."

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 $7.95 yesterday.

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