FRO - Frontline rallies as price target raised to $10 at H.C. Wainwright

H.C. Wainwright analyst Magnus Fyhr raised the firm's price target on Frontline (FRO +6.2%) to $10 from $8 and keeps a Neutral rating on the shares post the Q1 results. For Q2 2022, the Co. estimate spot TCE on a load-to discharge basis of $22,600 contracted for 74% of vessel days for VLCCs, $32,700 contracted for 70% of vessel days for Suezmax tankers and $46,300 contracted for 58% of vessel days for LR2 tankers. Since the start of 2022, Frontline shares were up around 35%, and over a period of one year, shares were up around 17%. Wall Street analysts stand with a Buy rating on the stock whereas, Seeking Alpha Quant Rating says to Sell.

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Frontline rallies as price target raised to $10 at H.C. Wainwright