Market Overview

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

Related KOS
Credit Suisse Believes It Pays To Wait On Kosmos Energy Ltd
Others Overlooked Kosmos Energy (KOS), Should You Buy It Now? - Tale of the Tape

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