Why Scorpio Tankers Stock Crushed It on Monday

It was more than smooth sailing for the stock of maritime logistics specialist Scorpio Tankers (NYSE: STNG) on Monday. A recommendation upgrade from an analyst at a very well-known bank powered the company's equity that trading session, sending it to a nearly 11% increase at market close. That trounced the S&P 500 index's 0.2% bump higher.That analyst is Ken Hoexter of Bank of America Securities. That morning, Hoexter flipped the switch on the upgrade, moving it a notch higher to buy from his previous neutral. The prognosticator accompanied this with a significant price-target hike to $60 per share. Previously, he felt it was worth $49. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool