CVR Energy price target raised to $21 from $16 at Scotiabank

Scotiabank raised the firm’s price target on CVR Energy (CVI) to $21 from $16 and keeps an Underperform rating on the shares. The firm believes the company’s Q1 results will have a positive impact on near-term share price performance, the analyst tells investors. Additionally, the firm believes the company’s outlook will brighten in Q2 as Group 3 margin continues to improve.