Stifel ratcheted down its earnings expectations for Scorpio Tankers as rates for products tankers come in below expectations.
Benjamin Nolan, the investment bank's shipping analyst, now expects the New York-listed tanker owner to deliver a $0.02 loss per share for 2016, rather than the $0.18 in earnings per share he had previously expected.
He also reduced his share price target to $8 from $9.
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