Scorpio Tankers price target raised to $80 from $65 at B. Riley

B. Riley raised the firm’s price target on Scorpio Tankers to $80 from $65 and keeps a Buy rating on the shares post the Q4 results. The analyst cites continued strength in the rate environment for the target raise. The company’s modern, efficient fleet is positioned to benefit from a favorable macro environment where Scorpio’s product tankers fleet sees continued strength in the refined petroleum product transport market from the global redistribution of refining capacity and tight global vessel capacity, the analyst tells investors in a research note.