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home / news releases / FRO - Euronav Share Price Downgrade


FRO - Euronav Share Price Downgrade

  • Prominent shipping analyst downgraded EURN from Buy to Hold.
  • Quarterly earnings estimated to be a loss on May 12th, their fifth quarterly loss in a row.
  • VLCC spot tanker rates mired in negative territory.
  • High oil prices will hurt demand, and IEA's strategic oil reserve drawdown will limit tanker demand.
  • I conclude the stock is a Sell, given EURN's continuing predilection to operate primarily in the spot market, instead of diversifying the timing and term structure of its chartering activity.

For further details see:

Euronav Share Price Downgrade
Stock Information

Company Name: Frontline Ltd.
Stock Symbol: FRO
Market: NYSE
Website: frontline.bm

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