Benchmark analyst Subash Chandra lowered the firm’s price target on Kosmos to $8 from $10 and keeps a Buy rating on the shares to reflect a lower oil deck and more modest reserve growth. Despite “a frustrating year” that featured cost overruns, shifting catalysts and missed expectations, Kosmos is in the “red zone” for the transformation to a long-term free cash flow generator, the analyst tells investors.
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