💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Scorpio Tankers upgraded to Buy at UBS with inflection point seen in 2018

Published 11/13/2017, 03:46 PM
© Reuters.  Scorpio Tankers upgraded to Buy at UBS with inflection point seen in 2018
STNG
-
  • Scorpio Tankers (STNG -1%) is upgraded to Buy from Neutral with a $5.50 price target, raised from $4.50, at UBS, which says the company could benefit from a looming supply-demand inflection point for product tankers in 2018.
  • UBS thinks fundamental signals are pointing in a positive direction ahead of a 2018 inflection point, as product tanker demand is expected to grow 3% and outpace supply growth of 2.8%.
  • The firm sees oversupply risk as very low due to shipyard capacity reductions and a substantial amount of capital and lending that has left the shipping sector, and .the inflection point driving freight rates back toward average levels.
  • Now read: Scorpio Tankers: Mixed Bag


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.