Analyst Omar Nokta lifted the sell tag on the Oslo and New York-listed company to hold today.
“Our basis for the upgrade is an improving tanker market outlook and Frontline's ability to generate positive cash flow as a result,” the analyst said in a research report.
It comes amid some quiet whispers in the market that the rise in the tanker owner’s shares and heavy trading of sibling Frontline 2012 on the OTC market in Oslo suggest a much-hyped merger is close.
