Jefferies Downgrades Frontline Ltd. (FRO) to Hold

Jefferies downgraded Frontline Ltd. (NYSE: FRO) from Buy to Hold and lowers its price target from $20 to $10.

The firm comments, "Although FRO and OSG shares have come under pressure in recent days/weeks and trade near estimated NAV, we believe the current risk/reward for both spot players is insufficiently attractive to continue adding to positions given the uncertain macroeconomic outlook. Consequently, we are downgrading both FRO and OSG shares to Hold from Buy."

For more ratings news on Frontline Ltd. click here and for the rating history of Frontline Ltd. click here.

Shares of Frontline Ltd. closed at $9.82 yesterday.

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