Jefferies Q2 Review on Frontline Ltd. (FRO): Cutting PT and Estimates

August 30, 2012 7:30 AM EDT Send to a Friend
Get Alerts FRO Hot Sheet
Price: $1.65 --0%

Rating Summary:
    2 Buy, 7 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 7 | New: 23
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Jefferies maintains a 'Hold' on Frontline Ltd. (NYSE: FRO) price target of $3.50 (from $4.00).

Analyst, Douglas J. Marvinac, said, "Frontline reported a 2Q12 EPS loss of $0.21, excluding asset sales and other one-time items, which was worse than Street consensus of an EPS loss of $0.12 but better than our estimate of an EPS loss of $0.23 primarily due to modestly better than expected tanker spot charter rates earned during the quarter."

FY12 EPS estimate lowered from (0.46) to (0.53) and FY13 from (1.68) to (1.89)

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 $3.19 yesterday.


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