Irrational Buying in Frontline (FRO)? Shares Get Mixed Reviews by Analysts
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Price: $43.67 +0.25%
Rating Summary:
5 Buy, 9 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
5 Buy, 9 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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So who's right then?
Frontline (NYSE: FRO) shares are surging Wednesday following an upgrade by Dahlman Rose from Hold to Buy and a $9.50 price target. Shares are up about 9 percent on the session following the move.
There's a conflict however. Just Tuesday morning Goldman Sachs dropped its rating on Frontline from Neutral to Sell, moving its price target from Nkr29 to Nkr33 (about $5.750, which suggests about 17 percent of downside.
Frontline shares aren't even at rock-bottom; the stock is up 200 percent from a 52-week low of $2.52 hit last November. The stock's 52-week high, however, is a smidgen over $25, leading to plenty of potential upside.
Also of note, the Baltic Dry Index has made a strong rebound from a low of 704 on February 22nd, now at 922.
Frontline (NYSE: FRO) shares are surging Wednesday following an upgrade by Dahlman Rose from Hold to Buy and a $9.50 price target. Shares are up about 9 percent on the session following the move.
There's a conflict however. Just Tuesday morning Goldman Sachs dropped its rating on Frontline from Neutral to Sell, moving its price target from Nkr29 to Nkr33 (about $5.750, which suggests about 17 percent of downside.
Frontline shares aren't even at rock-bottom; the stock is up 200 percent from a 52-week low of $2.52 hit last November. The stock's 52-week high, however, is a smidgen over $25, leading to plenty of potential upside.
Also of note, the Baltic Dry Index has made a strong rebound from a low of 704 on February 22nd, now at 922.
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