Why Has Seaport Global Securities Given Frontline (NYSE:FRO) a $5.0 Price Target
Seaport Global Securities shared with investors and clients in a recent research note that it launched coverage on Frontline (NYSE:FRO) stock, with “Buy” rating and a $5.0 TP.
It is down 17.44% since May 14, 2015 and is uptrending. It has outperformed by 19.71% the S&P500.
Frontline Ltd. is a shipping company. The company has a market cap of $20.46 billion. The Firm is engaged in the ownership and operation of oil tankers. It has 1.04 P/E ratio. The Firm operates oil tankers of two sizes: very large crude carriers , which are between 200,000 and 320,000 deadweight tons, and Suezmax tankers, which are vessels between 120,000 and 170,000 deadweight tons.
According to Zacks Investment Research, “FRONTLINE LTD’s business strategy is primarily based upon the following principles: emphasising operational safety and quality maintenance for all of its vessels; complying with all current and proposed environmental regulations; outsourcing technical operations and crewing; achieving low operational costs of vessels; achieving high utilisation of its vessels; competitive financing arrangements; and develop relationship to main charterers.”