Analysts Nicolay Dyvik, Oyvind Berle and Petter Haugen lifted their target price from $11 to $12 per share in a pre-results update today.
With rates running hot and the company’s fleet increasing, the DNB team has hikes its 2015 net profit forecast for Scorpio by 98%.
In a report issued today the analysts projected Scorpio to post earnings per share of $1.26 in 2015.
Dyvik, Berle and Haugen expect Scorpio to report a profit of $64m for the for the second quarter, 30% clear of consensus.
This is based on LR2 rates of $25,000 per day for the quarter and MRs at $23,500 per day.
Scorpio has been actively building its fleet of late with a string of second hand and resale deals and a move for up to 16 newbuildings at Hyundai Mipo.
