Jefferies Thinks Scorpio Tankers Inc’s Stock is Going to Recover

By Carrie Williams

In a report released today, Douglas Mavrinac from Jefferies reiterated a Buy rating on Scorpio Tankers Inc (NYSE: STNG), with a price target of $6. The company’s shares closed last Friday at $3.79, close to its 52-week low of $3.50.

According to TipRanks.com, Mavrinac is a 4-star analyst with an average return of 4.1% and a 44.2% success rate. Mavrinac covers the Services sector, focusing on stocks such as Navios Maritime Partners Lp, Ship Finance International, and Golden Ocean Group Limited.

Currently, the analyst consensus on Scorpio Tankers Inc is Strong Buy and the average price target is $7, representing an 84.7% upside.

In a report issued on May 24, Credit Suisse also maintained a Buy rating on the stock with a $7 price target.

The company has a one year high of $5.99 and a one year low of $3.50. Currently, Scorpio Tankers Inc has an average volume of 2.82M.

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Scorpio Tankers, Inc. engages in the provision of marine transportation of petroleum products worldwide. The company operates through the following business segments: Handymax, MR, Panamax/LR1, and Aframax/LR2. The Handymax segment includes the vessels STI Conqueror, STI Matador, STI Gladiator, and STI Highlander. The MR segment comprises the vessels STI Coral and STI Diamond. The Panamax/LR1 segment constitutes the vessels STI Harmony and STI Heritage. The Aframax/LR2 segment includes the vessels STI Spirit and Khawr Aladid. The company was founded by Emanuele A. Lauro on July 1, 2009 and is headquartered in Monaco.