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Scorpio Tankers (NASDAQ:STNG) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report released on Wednesday, AnalystRatings.NET reports. The firm currently has a $10.70 price objective on the stock. Zacks‘ price objective would indicate a potential upside of 2.29% from the stock’s previous close.

Shares of Scorpio Tankers (NASDAQ:STNG) traded down 1.34% during mid-day trading on Wednesday, hitting $10.32. 952,124 shares of the company’s stock traded hands. Scorpio Tankers has a 52-week low of $7.55 and a 52-week high of $12.48. The stock has a 50-day moving average of $11. and a 200-day moving average of $10.70. The company has a market cap of $1.937 billion and a price-to-earnings ratio of 205.10.

A number of other analysts have also recently weighed in on STNG. Analysts at UBS AG initiated coverage on shares of Scorpio Tankers in a research note to investors on Thursday, January 9th. They set a “hold” rating on the stock. They noted that the move was a valuation call. Analysts at Maxim Group initiated coverage on shares of Scorpio Tankers in a research note to investors on Thursday, January 9th. They set a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $12.58.

Scorpio Tankers Inc is engaged in seaborne transportation of crude oil and refined petroleum products in the international shipping markets.

To view Zacks’ full report, visit www.zacks.com

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