Scorpio Tankers stock slips as BofA downgrade revives “peak rates” debate
Scorpio Tankers shares fell 2.3% to $54.86 Friday after Bank of America Securities downgraded the stock to “underperform,” citing peak earnings and rate concerns. An insider filed to sell 150,000 shares valued at $8.15 million. TORM and Ardmore Shipping also declined, while International Seaways was flat. Scorpio management will present at a Capital Link webcast Jan. 14.