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

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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

Nov 2015RBC CapitalDowngradesOutperformSector Perform
Sep 2015CitigroupMaintainsNeutral
Sep 2015BarclaysMaintainsEqual-weight

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Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings


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