Scorpio Tankers price target raised to $80 from $75 at BTIG

BTIG raised the firm’s price target on Scorpio Tankers (STNG) to $80 from $75 and keeps a Buy rating on the shares as part of a broader research note on Crude and Product Tanker names. Crude tanker spot rates have surprised to the upside with average VLCC – Very Large Crude Carrier – spot rates averaging $100K YTD, which is up almost 2-times versus the same period last year, the analyst tells investors in a research note.