I have been cautioning against Frontline Ltd. (NYSE:FRO) for almost two years now, and in the last two quarters, the company has admitted the fact that solvency will be an issue in the next six months.
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Deutsche Bank initiated coverage on Frontline Ltd. (NYSE: FRO) with a Hold rating and a price target of $2.00. Analyst Amit Mehrotra said, "We believe FRO is fundamentally well positioned to benefit from a turn we see coming in the crude tanker market.
Frontline (NYSE:FRO) -6.2% premarket after posting another quarter of losses and declining revenue, while saying it is in a "challenging situation" with $1.03B in debt and lease obligations as of June 30.