How times have changed when it comes to Deutsche Bank’s views of Scorpio Tankers in relation to tanker-market peers.
The product carrier giant is the bright spot in the bank’s new assessment of the tanker names under its coverage, continuing the bank’s transformation into a Scorpio bull and away from its one-time bearish views of the Emanuele Lauro-led company.
Scorpio won an upgrade on third-quarter earnings expectations as a result of stronger-than-expected rates in the clean tanker trade, and also a jump in Deutsche Bank’s 12-month price target to $62 from $55 per share on expectations of a winter market rally.
