Deutsche Bank Starts Frontline Ltd. (FRO) at Hold

Deutsche Bank initiated coverage on Frontline Ltd. (NYSE: FRO) with a Hold rating and a price target of $2.00.

Analyst Amit Mehrotra said, "We believe FRO is fundamentally well positioned to benefit from a turn we see coming in the crude tanker market. Unfortunately it appears the recovery can’t come fast enough, with FRO’s upside-down capital structure and impending $190M debt maturity likely necessitating further dilution to equity holders. With more-than-enough upside potential if spot rates rebound, we prefer to be on the sidelines for now until near-term capital structure hurdles are cleared."

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 $1.56 yesterday.

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