BofA downgraded Kosmos to Neutral from Buy with a price target of $9.60, down from $10. While Kosmos’ differentiated LNG story "continues to crystalize and move closer to view" and the firm continues to see the scale of Kosmos’ gas resource base as "practically unique amongst its E&P peers," the firm believes that much of this is now priced in given the extent of recent share price performance. With Kosmos up greater than 30% year-to-date, the firm views it as ultimately less attractive at current levels than Buy rated peers that offer greater implied upside.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on KOS: