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Enter Symbol:
 
Frontline Ltd. (FRO) [hlAlert]

Rating:
Buy FRO
down 38.88 %

Frontline Ltd. (FRO) upgraded to Buy with price target $44 by Jefferies & Co

Posted on: Monday,  Jan 11, 2010  8:25 AM ET by Jefferies & Co

Jefferies & Co rated Buy Frontline Ltd. (NYSE: FRO) on 01/11/2010. Previously Jefferies & Co rated Underperform Frontline Ltd. (NYSE: FRO) on
02/27/2009., when the stock price was $20.57. Since then, Frontline Ltd. has gained 63.64% as of 01/11/2010's recent price of $33.66.
If you would have followed the previous Jefferies & Co's recommendation on FRO, you would have lost 38.88% of your investment in 318 days.

Frontline Ltd. (Frontline) is engaged primarily in the ownership and operation of oil tankers, including oil/bulk/ore (OBO) carriers. The Company operates tankers of two sizes: very large crude carriers (VLCCs), which are between 200,000 and 320,000 deadweight tons (dwt), and Suezmaxes, which are vessels between 120,000 and 170,000 dwt. As of February 28, 2009, the Company operated a tanker fleet consisting of 83 vessels. The fleet consists of 41 VLCCs, which are either owned or chartered in, 30 Suezmax tankers, which are either owned or chartered in, eight Suezmax OBOs, which are chartered in, and four VLCCs under its commercial management. In January 2008, the Company established Independent Tankers Corporation Limited (ITCL), as a wholly owned subsidiary for the purpose of holding, by way of contribution, its interests in Independent Tankers Corporation (ITC). In February 2008, Frontline spun off 17.53% of its holding in ITCL to its shareholders.

Our focus on growing and mid-sized companies enables us to identify unique investment ideas, which can make the difference in a tough market. Jefferies' research effort covers U.S. & International equity, high yield, convertibles, investment grade fixed income and post-reorganization securities, as well as special situations and quantitative research. The more than 120-person team of research professionals covers over 1,200 companies in more than 40 industries worldwide. Our analysts focus on identifying emerging industry themes and dig deeper to provide in-depth, thought provoking, objective research. Our analysts use a variety of quantitative and qualitative tools, integrating field analysis, proprietary channel checks and ongoing dialogue with the managements of the companies they cover. We utilize the latest technologies to deliver a research product that is timely, differentiated, and tailored to each customer's needs. Regular client access to companies and their management teams is provided through a wide variety of Jefferies hosted industry conferences, company management meetings and on-site tours.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
1/11/2010 8:25 AM Buy
None
33.66 44.00
as of 12/31/2010
1 Week down  -3.40 %
1 Month down  -3.89 %
3 Months down  -12.31 %
1 YTD down  -49.13 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
2/27/2009 8:25 AM Sell
None
20.57 14.00
12/22/2008 8:25 AM Sell
None
29.25 17.00
5/23/2008 8:25 AM Hold
None
64.70 60.00
2/15/2008 8:25 AM Hold
None
46.22 45.00
7/25/2007 9:25 AM Hold
None
48.80 44.00

(*) Stock Price at the time of the recommendation.
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