Market Overview

UPDATE: Deutsche Bank Raises PT to $16 on Kosmos Energy Post Jubilee Equity Sale

Related KOS
Kosmos Energy Provides Operational and Financial Update
Credit Suisse Believes It Pays To Wait On Kosmos Energy Ltd

Deutsche Bank maintained Kosmos Energy (NYSE: KOS) with a Hold rating and raised the price target from $15.00 to $16.00.

Deutsche Bank commented, "With prior operational issues at Jubilee behind them, KOS (or rather its largest shareholders) took a material step towards addressing one of the remaining overhangs on share price performance: limited liquidity. KOS announced the sale of 30MM shares by existing shareholders (27.5MM from Private Equity, 2.5MM from management), a ~43% increase in current liquidity, increasing the float from ~18% to ~25%. Although we expect near-term weakness on deal pricing and liquidity will remain a challenge, we view the move as a positive step in the right direction, allowing the market to focus increasingly on upcoming xploration potential, including near-term Sipo in Cameroon."

Kosmos Energy closed at $12.75 on Monday.

Latest Ratings for KOS

Sep 2014Tudor PickeringUpgradesAccumulateBuy
Jun 2014Global HunterDowngradesAccumulateNeutral
Apr 2014BMO CapitalInitiates Coverage onMarket Perform

View More Analyst Ratings for KOS
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings


Related Articles (KOS)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters