Frontline shares were catapulted upwards this morning after DNB Markets upgraded its view on the tanker peer group.
Frontline saw over 12% added to its market value after analysts led by Nicolay Dyvik reversed a downgrade in late November 2018, made in the wake of Opec production cuts.
Dyvik argued tanker stocks had adjusted for the reduced level of oil in the market but were not reflecting the anticipated boost to earnings, expected to begin in the second half of this year as a result of IMO 2020 rules.
