After spending time with management, Jefferies analyst Randy Giveans believes Scorpio Tankers remains well positioned to benefit from a multi-year products tanker market recovery "that is already showing signs of life." The company offers a "very attractive" way to invest in the upcoming products tanker "super cycle" given its "massive" operating leverage to an improving spot market and focus on delevering the balance sheet, Giveans tells investors in a research note. Further, the shares are trading at a 20% discount to net asset value, he adds. The analyst keeps a Buy rating on Scorpio Tankers with a $40 price target.