UPDATE - Barclays Upgrades Kosmos Energy (KOS) to Overweight; Shares Have Lagged

UPDATE - Barclays upgraded Kosmos Energy (NYSE: KOS) to Overweight with a price target of $17.00.

Barclays analyst said, "KOS shares have lagged peers by ~25% since June. KOS will likely test potential net resources of ~300-350 MMBOE by year end '12 vs. ~500 MMBOE of net resources discovered to date. We are raising our NAV estimate to $21. Shares are supported by our ~$9 per share NAV for Jubilee alone. Our $21 net asset value estimate includes $9 per share for the Jubilee Field, $6/$3 for other discoveries/appraisal drilling in Ghana and $4 for future exploration potential in Ghana, Cameroon and Morocco. We have placed no value on the Suriname acreage."

For an analyst ratings summary and ratings history on Kosmos Energy click here. For more ratings news on Kosmos Energy click here.

Shares of Kosmos Energy closed at $11.58 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Northland Upgrades Astera Labs (ALAB) to Outperform, 'Right Time, Customers, and Products'
• Keefe, Bruyette & Woods Upgrades Nayax (NYAX) to Outperform
• Citi Upgrades Zhejiang Dahua Technology (002236:CH) to Neutral