Morgan Stanley Sees Contrarian Value For Cobalt International Energy

In a report published Thursday, Morgan Stanley analyst Evan Calio reiterated an Overweight rating and $33.00 price target on

. In the report, Morgan Stanley noted, “Today, CIE introduced two new ~1Bn bbls Angolan prospects. These prospects, in addition to Shenandoah and N. Platte appraisals, refute the view that CIE has drilled its biggest prospects. While offshore exploration remains out of favor, jaundiced by shale's long shadow, we see contrarian value.” Cobalt International Energy closed on Wednesday at $18.52.