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Crude Tanker Updates and Analyst Recommendations for September

PART:
1 2 3 4 5 6 7 8
Part 5
Crude Tanker Updates and Analyst Recommendations for September PART 5 OF 8

Analyst Recommendations for Frontline in September

Article focus

In the previous part of this series, we saw the latest updates and analyst recommendations for Nordic American Tanker (NAT), Tsakos Energy Navigation (TNP), and Teekay Tankers (TNK). In this part, we’ll look at analyst recommendations for Frontline (FRO).

Analyst Recommendations for Frontline in September

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Price performance

In September, Frontline’s stock price on the Oslo Stock Exchange dropped to a 52-week low. On September 1, 2017, FRO’s stock price was 38.5 Norwegian krone. On September 22, FRO’s stock price was 46.2 Norwegian krone, which is 20.5% higher than its 52-week low and 31.6% lower than its 52-week high of 68.0 Norwegian krone.

The stock is up 18.4% since the start of September but still down 25.4% compared to the price at the start of the year.

Revisions

In first nine months of 2017, only one analyst has revised its recommendation on Frontline. In July 2017, Evercore downgraded FRO to “inline” from “underperform.”

Consensus recommendations

According to Reuters, the consensus rating for FRO is 3.4, which means a “hold.” Ten analysts give recommendations on Frontline. Out of these, none of the analysts gave the company a “strong buy.” However, three analysts recommended a “buy” for FRO. Two analysts gave a “hold” rating, and 50% of the analysts are bearish on Frontline. Three analysts gave “sell” recommendations, and two analysts give a “strong sell” to FRO.

The consensus 12-month target price on FRO is 50.1 Norwegian krone. Compared to the market price of 46.2 Norwegian krone on September 22, 2017, the target price implies a potential upside of 8.4%.

In the next part of this series, we’ll see analyst recommendations for DHT Holdings (DHT).

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