While Frontline may have fallen short of analyst Jonathan Chappell’s expectations, the Evercore analyst is more focused on the company’s future.
In a note published on Friday, Chappell said the John Fredriksen-backed tanker giant’s earnings per share of $0.23 fell below his forecast of $0.31 forecast, but that was “effectively irrelevant” given the company’s strong forward bookings.
“[Third quarter bookings] for this period greatly exceeding our forecasts and leading to a near-doubling of our prior EPS projection for the quarter (to $0.37
