Danske Bank has upgraded shares in John Fredriksen’s Frontline given its bullish assessment for the tanker market in 2020.
Analyst Anders Karlsen raised the crude and product tanker owner to buy while cautioning its upcoming third quarter results would be for a transitional period.
”Even though we still see 2019 as challenging, we expect a better 2020, which prompts us to change our view on the company,” Karlsen said in a report.
