Frontline: It Screens Cheap - It Isn't, But I'm Still Saying Buy

Frontline is a Buy, driven by robust near-term cash flows and a conservative earnings floor, despite trading near 52-week highs. FRO's forward yield is de-risked by high charter coverage and supportive market rates, with a realistic dividend floor of ~7% projected through 2028-29. Valuation is no longer optically cheap on 2027-28 consensus earnings, with forward PE rising to ~14x and asset-based multiples reflecting earnings dependence.