Clarksons Platou Securities lifted its expectations for Scorpio Bulkers shares as its analysts said they see the shipowner in a position of strength to ride an upswing in the bulker market.

Frode Morkedal and Herman Hildan said lifted their price target to $10 from $5.50, with the new outlook implying a 34.2% premium on today's price for Scorpio's shares on the New York Stock Exchange.

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