Tag Archives: Frontline

FRO-US: Initiation (SELL, TP 3.2)

Representing the backbone of Mr Fredriksen’s oil tanker investments and spanning two decades, Frontline is still going strong after several transformational years from the verge of bankruptcy in early 2015 to the current sturdy fleet growth and pursuit of M&A possibilities. Although adding a 25% premium to underlying values, we still see significant downside to the share price given the lackluster outlook for oil tankers. We initiate coverage with a SELL rating and  target price of USD  3.2 (-51%).

Liquidity: Even read more

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