Frontline (FRO) NewsBite - Upgrade Boosts Frontline

Posted on Wednesday, July 23, 2008 12:33 PM

Frontline Ltd. (FRO) opened at 65.94. So far today, the stock has hit a low of 65.94 and a high of 69.09. FRO is now trading at 68.77, up 3.94 (5.98%). The stock hit its 52 week high of 72.36 in June and set its 52 week low of 34.00 in January. FRO has been climbing for most of the past year. Frontline shares have been surging today after a JP Morgan analyst upgraded the stock to "Overweight" from "Neutral," saying it expects the company's shares to be lifted by higher dividend payments. Technical indicators for the stock are bullish but deteriorating while S&P gives FRO a negative 2 STARS (out of 5) sell rating. If you’re looking for a hedged play on this stock, consider an August bull-put credit spread below the $60 range. FRO stock could fall up to 12.8% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]