Kosmos downgraded to Market Perform from Outperform at Bernstein

Bernstein downgraded Kosmos to Market Perform from Outperform with a price target of $9, down from $12, as part of a broader research note on North American Oil & Gas Exploration/Production names. The company has a near-term strategy centered around developing LNG fields off Mauritania & Senegal, connecting infrastructure-led exploration targets to existing platforms and optimizing key oily assets, the analyst tells investors in a research note. The firm adds however that it is downgrading the stock due to cyclical timing, despite its rich international growth potential.