Kosmos price target lowered to $4 from $5 at Bernstein

Bernstein lowered the firm’s price target on Kosmos (KOS) to $4 from $5 and keeps a Market Perform rating on the shares. The firm says valuation is reasonably compelling, with Kosmos trading at a depressed multiple typically seen at the top of the cycle. However, oil macro concerns keep Bernstein on the sidelines for now.