BTIG Raises Frontline Price Target by $10 to $55

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Summary · why it matters

BTIG raised its price target on Frontline from $45 to $55 while maintaining a Buy rating. The new target implies an upside of over 55% from current levels. The upgrade came in a research note on oil and tanker markets, where BTIG noted that crude tanker demand is expected to strengthen post-war as Asian importers replenish inventories. The firm also highlighted that hiring costs for tankers in the Persian Gulf have nearly doubled following the US-Iran memorandum of understanding.

Impact on assets 2

Energy▲
Frontline Ltd
FRO
▲ PositiveCapitalDemandrelevance

BTIG raised price target from $45 to $55, maintaining Buy rating, implying over 55% upside.

Others▲
⛏Brent Crude Oil Futures
BRENT
▲ PositiveDemandrelevance

Crude tanker demand expected to strengthen post-war as Asian importers replenish inventories, supporting oil demand.