Kosmos price target raised to $9.90 from $9.40 at Barclays

Barclays raised the firm’s price target on Kosmos to $9.90 from $9.40 and keeps an Overweight rating on the shares. The analyst expects the European integrated energy sector return on average capital employed crossing 15% led by higher refining margin and recovery in oil prices in Q3, more than offsetting drop in natural gas prices and chemical margin. The disciplined spending approach should enable companies in using excess free cash flow for share buybacks and debt reduction through next year, the analyst tells investors in a research note.