JP Morgan Maintains Overweight on Scorpio Tankers, Lowers Price Target to $83
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Samuel Bland has maintained an Overweight rating on Scorpio Tankers (NYSE:STNG) but lowered the price target from $85 to $83.
October 06, 2023 | 2:23 pm
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NEUTRAL IMPACT
JP Morgan has maintained an Overweight rating on Scorpio Tankers but lowered the price target from $85 to $83.
The news is directly about Scorpio Tankers. The Overweight rating indicates that JP Morgan expects the stock to outperform the market, which is positive. However, the lowering of the price target could be seen as a negative signal, suggesting that the stock might not rise as much as previously expected. Therefore, the overall short-term impact on the stock price is likely to be neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100