Jefferies Maintains a 'Hold' on Frontline Ltd. (FRO); Q2 Earnings Preview & Outlook Update

July 24, 2012 10:07 AM EDT
Get Alerts FRO Hot Sheet
Price: $7.07 --0%

Rating Summary:
    3 Buy, 10 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 16 | New: 50
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Jefferies maintains a 'Hold' on Frontline Ltd. (NYSE: FRO) price target of $4.00 (from $5.50).

Analyst, Douglas J. Marvinac, said, "Although we are increasing our 2Q12 EPS estimates as Saudi Arabian production levels stayed elevated slightly longer than anticipated, we believe the crude oil tanker market is likely to remain volatile but in general at weak levels in the coming quarters as weak global oil demand, high crude oil inventory levels, and limited spare OPEC production capacity limits crude oil tanker demand growth." (current qtr lowered from (0.14) to (0.23), but FY12 lifted slightly from (1.24) to (1.23)

For an analyst ratings summary and ratings history on Frontline Ltd. click here. For more ratings news on Frontline Ltd. click here.

Shares of Frontline Ltd. closed at $3.77 yesterday.

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