BTIG Lifts Scorpio Tankers Price Target to $85; Mixed Analyst Views Keep Spotlight on Cash Returns
BTIG raised its price target for Scorpio Tankers (NYSE:STNG) to $85 from $80 while keeping a Buy rating, citing robust forward bookings and improving rate momentum. The company reported EBITDA roughly in line with expectations, enhanced its dividend and returned material cash to shareholders this quarter. Scorpio also moved to a pro forma net cash …