Kosmos price target lowered to $5 from $6 at BofA

BofA lowered the firm’s price target on Kosmos (KOS) to $5 from $6 and keeps a Buy rating on the shares. Kosmos’ inflection, while not evident in Q1 results, “inches nearer,” the analyst tells investors. The firm, which continues to view Kosmos as differentiated by its about 20 year reserve life that underpins valuation upside, sees “a clear path to deleveraging to re-rate its equity,” but lowers estimates due to a lowered Brent price estimate of $65 per barrel for 2025.