KOS - Kosmos Energy upgraded at Berenberg with 'lots of levers to pull'

Kosmos Energy ( NYSE: KOS ) +1.6% in Thursday's trading after Berenberg upgraded shares to Buy from Hold with a $8.50 price target, up from $8.30, saying the macro backdrop should support strong cash flows in H2.

Kosmos ( KOS ) has "lots of levers to pull" given its leverage to higher gas prices in the first two phases of the Tortue development offshore Senegal and Mauritania that should generate additional upside to base-case forecasts, Berenberg's James Carmichael said.

Increased confidence in delivering the significant resource base in Ghana also remains a source of material potential upside, the analyst said.

Carmichael also noted that even while shares have bounced off recent lows, they remain ~20% since he downgraded to Hold in June.

Kosmos Energy ( KOS ) recently reported Q2 adjusted earnings of $0.28/share on revenues of $620M .

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