FBR Capita Upgrades Frontline Ltd. (FRO) to Market Perform
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FBR Capita upgrades Frontline Ltd. (NYSE: FRO) from Underperform to Market Perform and raises their price target from $14 to $23.
The firm commented, The company has alleviated near-term financing pressures and executed strong commercial management to earn above-average day rates. However, high cash break-even levels remain a concern, contributing to our Market Perform rating.
Frontline Ltd., through its subsidiaries, engages in the ownership and operation of oil tankers, including oil/bulk/ore (OBO) carriers.
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