Evercore ISI raised its price target on Scorpio Tankers Inc. (NYSE: STNG) to $105 from $97 and maintained an Outperform rating, according to Investing.com.
The firm based the move on third-quarter 2026 adjusted diluted earnings per share of $2.49, which beat Evercore ISI's forecast of $2.30 and the average Street estimate of $2.06. Scorpio Tankers also raised its quarterly dividend 67% to $0.75 per share. Evercore ISI raised its fourth-quarter 2026 earnings per share projection to $7.33 from $5.89 and its 2027 estimate to $11.68 from $11.28.
The company said fourth-quarter-to-date spot rates exceed expectations. Scorpio Tankers reduced total debt to $655 million and reported cash above $2 billion. The firm said it has no material debt repayments until the beginning of the next decade.
Investing.com also reported, citing InvestingPro data, that the stock trades at a P/E ratio of 4.61 and has returned 85% year to date. Separately, B.Riley raised its price target on the stock to $130 from $120 and kept a Buy rating.