In a report released yesterday, Joakim Hannisdahl from Cleaves Securities upgraded Frontline (FRO) to Buy, with a price target of $8.40. The company’s shares closed last Tuesday at $7.56.
According to TipRanks.com, Hannisdahl is a 4-star analyst with an average return of 13.1% and a 59.8% success rate. Hannisdahl covers the Industrial Goods sector, focusing on stocks such as Nordic American Tanker, International Seaways, and Eagle Bulk Shipping.
Frontline has an analyst consensus of Moderate Buy, with a price target consensus of $7.38.
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Frontline’s market cap is currently $1.41B and has a P/E ratio of 2.60. The company has a Price to Book ratio of 0.93.
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Frontline Ltd. is an international shipping company, which engages in the ownership and operation of oil and product tankers. It also offers the seaborne transportation of crude oil and oil products. The company was founded in 1985 and is headquartered in Hamilton, Bermuda.
