Scorpio Tankers (STNG) Tops Q3 EPS by 10c

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Scorpio Tankers (STNG) PT Lowered to $80 at Deutsche Bank

October 29, 2024 2:32 PM EDT

Deutsche Bank analyst Chris Robertson lowered the price target on Scorpio Tankers (NYSE: STNG) to $80.00 (from $84.00) while maintaining a Buy rating.

The analyst comments "STNG posted 3Q24 adjusted diluted EPS of $1.75, beating our estimate of $1.57 and the average Street forecast of $1.63. However, although spot rate expectations had eased heading into the seasonally stronger 4Q (see our updated projections here), the 4Q-to-date spot rate bookings for STNGs fleet are still trending... More