Cleaves Securities analyst Peter Christensen maintained a Buy rating on Frontline (FRO – Research Report) on September 18 and set a price target of $23.00. The company’s shares opened today at $13.47.
Christensen covers the Industrial Goods sector, focusing on stocks such as DHT Holdings, Frontline, and Nordic American Tanker. According to TipRanks, Christensen has an average return of 24.8% and a 63.64% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Frontline with a $16.30 average price target, a 21.01% upside from current levels. In a report released on September 6, Jefferies also upgraded the stock to a Buy with a $16.00 price target.
FRO market cap is currently $2.8B and has a P/E ratio of 44.22.
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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.