Replies to post #3751 on Oil & Gas - Energy - Commodities - Resources (OILBRENT)

[benfrankledger]

$STNG - Stifel analysts reduce their STNG price target to $6 from $7, saying the company is "playing defense" in trying to bolster the balance sheet and liquidity ahead of a heavy debt repayment schedule (source: Briefing.com).

STNG, which was already heavily leveraged to the product tanker spot market when the acquired the Navig8 product tanker fleet this summer, is increasing the reward for an improvement in the market but also increasing the risk if such an improvement were to take more time to materialize.

But the firm remains long the shares, believing the supply/demand for the product tanker market remains poised for an inflection point and STNG is the favorite pure play on the space.

[benfrankledger]

$STNG - Scorpio Tankers (STNG -0.6%) holds up well despite pricing its 30M-share public offering at $3/share; shares fell nearly 5% in after-hours trading following disclosure of the offering.