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Frontline (FRO) Gets a Buy Rating from Drewry Financial

Drewry Financial analyst Nikesh Shukla maintained a Buy rating on Frontline (FROResearch Report) on June 17 and set a price target of $10.00. The company’s shares closed last Friday at $8.34.

Shukla has an average return of 17.2% when recommending Frontline.

According to TipRanks.com, Shukla is ranked #1390 out of 7892 analysts.

Currently, the analyst consensus on Frontline is a Moderate Buy with an average price target of $11.14.

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Based on Frontline’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $217 million and net profit of $31.15 million. In comparison, last year the company earned revenue of $194 million and had a net profit of $28.9 million.

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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.

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