$STNG Scorpio tankers Swimming in cash. Bullish

In recent analysis by J Mintzmer he makes come very positive points regarding STNG he wrote "Scorpio Tankers (STNG) has the world's largest fleet of modern product tankers. With major fuel regulations pending in 2020, product markets are poised to surge.Scorpio Tankers (NYSE:STNG) is a product tanker pure-play with the world's largest publicly-traded fleet of modern product tankers, with 119 vessels on the water (including 10 chartered-in vessels). Scorpio's fleet is unrivaled in its modernity, with zero vessels built prior to 2012. Their leverage is very high, but they resolved all near and medium-term concerns via a massive equity dilution in late-2018 at $18.50/sh. This was a brutal dilution, but they did repurchase about 1.35M shares at $17.20 to defend that pricing.
STNG is swimming in cash now that rates are rising. I expect full redemption of remaining 2019 convertible notes later this year along with all near-term baby bonds. As we discussed last quarter, now that they took their medicine with the big dilution, STNG is finally investible for non-extreme risk takers, especially since product tanker rates and sentiment have also been on the upswing."

This is extremely bullish commentary and is echoed within the analyst community


Average analysts recommendation BUY
Average analysts price target $35
14 BUY
1 Hold
Company Description
Scorpio Tankers , Inc. engages in the provision of marine transportation of petroleum products. It operates through the following segments: Handymax, MR, LR1/Panamax, and LR2/Aframax.