Kosmos price target lowered to $7 from $7.50 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Kosmos to $7 from $7.50 but keeps a Buy rating on the shares. The firm remains positive on the stock based on expectations for a volume and free cash flow inflection as Tortue comes online as well as expectations for sequentially lower capex levels in 2025 following elevated spend on Tortue, the analyst tells investors in a research note. Goldman Sachs adds it will continue to look for updated Kosmos management commentary surrounding operational execution across the asset base.