Kosmos price target lowered to $7 from $8.15 at BofA

BofA lowered the firm’s price target on Kosmos to $7 from $8.15 and keeps a Buy rating on the shares after the firm’s commodity research team cut their Brent oil projection to an average of about $75 per barrel into year-end 2025 and also flagged downside risks down to $60 per barrel dependent on the OPEC+ supply strategy. Kosmos’ structurally lower capex requirements, twinned with higher production, is set to drive a step change in deleveraging that’s “still apparent at lower oil prices,” the analyst tells investors.