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BTIG Maintains Buy on Scorpio Tankers, Raises Price Target to $110
BTIG analyst Gregory Lewis maintains Scorpio Tankers (NYSE:STNG) with a Buy and raises the price target from $100 to $110.
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Scorpio Tankers Inc. Announces Agreements to Sell Three Product Tankers and Purchase Four Newbuilding Vessels
Scorpio Tankers Inc. announced the sale of three product tankers (STI Dama, STI Elysees, and STI Veneto) for a combined $180.5 million, with closings expected by end of 2026. The company simultaneously agreed to purchase four newbuilding vessels—two LR2 tankers at $72.8 million each and two VLCCs at $135 million each—with deliveries expected between 2028 and 2029. This represents a fleet modernization strategy focused on newer, scrubber-fitted vessels.
Scorpio Tankers To Sell Three Product Tankers For $180.5M And Purchase Four Newbuild Vessels For $207.8M
Vessel SalesThe Company has entered into agreements to sell three product tankers comprising the 2014 built scrubber-fitted MR product tanker, STI Dama, for $37.5 million, the 2014 built scrubber-fitted LR2 product