Frontline (Hold, TP: NOK65.00) - Not too bad, despite it all
We believe there is still a way to go before the tanker market receives a clean bill of health, as fleet growth is weighed against lacklustre oil demand and need for exports. Although markets have been at rock bottom, Frontline reported rates YTD exceeding its cash break-even and has secured a comfortable liquidity runway. We reiterate our HOLD and our NOK65 target price.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.