Dahlman Rose upgraded Frontline Ltd. (NYSE: FRO) from Hold to Buy. PT $9.50.
Dahlman analyst said, "We are upgrading shares of Frontline based on the company's exposure to the VLCC and Suezmax spot market. Following its successful restructuring, the company retains significant spot market exposure, and has resolved the balance sheet issues which served as an overhang over the shares."
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Shares of Frontline Ltd. closed at $7.02 yesterday, with a 52 week range of $2.52-$25.09.