Jefferies Boosts Price Target On Frontline (FRO) After Q4, Keeps Hold Rating

Jefferies raised estimates and its price target on Frontline Ltd. (NYSE: FRO) from $4 to $4.50 following Q4 results, but is keeping its Hold rating.

The firm comments, "Last Friday, Frontline reported a 4Q11 EPS loss of $0.40, excluding asset sales and other one-time items, which was better than both Street consensus of a loss of $1.03 and our estimate of a loss of $0.94 primarily due to stronger than expected crude tanker spot charter rates earned during the quarter."

Q1 EPS goes from ($0.50) to ($0.33), FY12 goes from ($2.31) to ($1.67) and FY13 goes from ($2.24) to ($1.68).


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 $5.00 yesterday.

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