Report
Nicolay Dyvik
EUR 91.47 For Business Accounts Only

Frontline (Hold, TP: NOK88.00) - Rate collapse looming

Fresh floating storage data from Kpler and almost daily a string of OPEC+ cuts suggest a rate collapse by early Q3 and that our H2 forecasts could prove too optimistic. However, owing to a small orderbook and old fleet, we reiterate our HOLD and NOK88 target price.
Underlying
Frontline Ltd.

Provider
DnB Markets
DnB Markets

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.

 

Analysts
Nicolay Dyvik

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