Frontline Ltd. (NYSE:FRO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, Market Beat reports. The brokerage currently has a $12.50 price target on the stock. Zacks Investment Research‘s target price points to a potential upside of 52.44% from the stock’s current price.

According to Zacks, “FRONTLINE LTD’s business strategy is primarily based upon the following principles: emphasising operational safety and quality maintenance for all of its vessels; complying with all current and proposed environmental regulations; outsourcing technical operations and crewing; achieving low operational costs of vessels; achieving high utilisation of its vessels; competitive financing arrangements; and develop relationship to main charterers. “

Several other equities research analysts have also recently commented on the company. Deutsche Bank reaffirmed a “hold” rating and set a $3.00 target price (up previously from $2.00) on shares of Frontline in a research note on Monday, January 4th. Seaport Global Securities initiated coverage on Frontline in a research note on Thursday, December 17th. They set a “buy” rating and a $5.00 target price for the company. Nordea Equity Research raised Frontline from a “hold” rating to a “buy” rating in a research note on Thursday, January 14th. DNB Markets raised Frontline from a “hold” rating to a “buy” rating in a research note on Wednesday, January 13th. Finally, Credit Suisse raised Frontline from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $2.00 to $4.00 in a research note on Wednesday, November 25th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $4.83.

A number of large investors have recently made changes to their positions in FRO. Marshall Wace LLP boosted its stake in shares of Frontline by 16.2% in the fourth quarter. Marshall Wace LLP now owns 1,275,617 shares of the company’s stock worth $3,814,000 after buying an additional 177,371 shares during the period. J. Goldman & Co LP purchased a new stake in shares of Frontline during the fourth quarter worth approximately $990,000. Wells Fargo & Company MN boosted its stake in shares of Frontline by 71.7% in the fourth quarter. Wells Fargo & Company MN now owns 85,236 shares of the company’s stock worth $255,000 after buying an additional 35,591 shares during the period. Bank of Montreal Can boosted its stake in shares of Frontline by 23,005.0% in the fourth quarter. Bank of Montreal Can now owns 155,959 shares of the company’s stock worth $466,000 after buying an additional 155,284 shares during the period. Finally, Morgan Stanley boosted its stake in shares of Frontline by 499.8% in the fourth quarter. Morgan Stanley now owns 471,214 shares of the company’s stock worth $1,408,000 after buying an additional 392,655 shares during the period.

Shares of Frontline (NYSE:FRO) traded up 0.549% during midday trading on Friday, hitting $8.245. The stock had a trading volume of 415,311 shares. Frontline has a 52 week low of $7.78 and a 52 week high of $85.25. The company’s 50 day moving average is $49.49 and its 200 day moving average is $67.00. The firm has a market cap of $399.56 million and a P/E ratio of 11.326.

Frontline (NYSE:FRO) last released its earnings results on Tuesday, November 24th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. During the same period last year, the firm posted ($0.15) EPS. On average, equities analysts predict that Frontline will post $1.67 earnings per share for the current fiscal year.

Frontline Ltd. is a shipping company. The Company is engaged in the ownership and operation of oil tankers. The Company operates oil tankers of two sizes: very large crude carriers (NYSE:FRO), which are between 200,000 and 320,000 deadweight tons, and Suezmax tankers, which are vessels between 120,000 and 170,000 deadweight tons.

12 Month Chart for NYSE:FRO

Get a free copy of the Zacks research report on Frontline (FRO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Frustrated with your broker? Are you tired of paying high fees? Do you feel like you are getting ripped off by your stock broker? It's time for a change. Find out which brokerage is best for your personal trading style at the InvestorPlace Broker Center. Compare brokers at a glance in the InvestorPlace Broker Center (Click Here).

Receive News & Ratings for Frontline Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontline Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.