10 Firms Post Strong Gains Amid Wall Street Bloodbath

5. Frontline Plc (NYSE:FRO)

Shares of Frontline PLC jumped by 11.42 percent on Monday, adding $1.63 to close at $15.9 apiece as investors resorted to bargain-hunting as the company continues to trade near its 52-week low of $13.17.

Despite the lack of further developments to perk up buying, several analysts posted a bullish outlook on the company.

Just recently, it earned a “strong buy” rating from Fearnley Fonds.

Jefferies Financial Group, while lowering its target price on Frontline shares from $26.00 to $20.00, has set a “buy” rating on the stock, indicating a positive outlook.

Finally, BTIG Research upgraded Frontline from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company.

Frontline plc is a company engaged in seaborne transportation of crude oil and refined products. The company owns and operates one of the largest and most modern fleets in the industry, consisting of VLCCs, Suezmax tankers, and LR2/Aframax tankers.