Bank of America Securities Lowers PT on Kosmos Energy (KOS), Maintains a Buy Rating

Kosmos Energy Ltd. (NYSE:KOS) is one of the Most Oversold Penny Stocks to Buy Now. On August 5, Matthew Smith from Bank of America Securities reduced the firm’s price target on Kosmos Energy Ltd. (NYSE:KOS) from $5 to $4.2, while maintaining a Buy rating on the stock.

The cautious outlook follows the company’s fiscal second-quarter results, where the company missed both top and bottom line estimates. The company delivered $393.52 million in revenue, down 12.73% year-over-year and below consensus by $4.82 million. The EPS of negative $0.19 also came below the expectations by $0.10.

Bank of America Securities Lowers PT on Kosmos Energy (KOS), Maintains a Buy Rating

A drilling platform in the middle of the ocean, showing the oil and gas exploration process.

Management noted that they are focused on increasing production, reducing costs, and strengthening the balance sheet. It now expects full-year production to be between 65,000 – 70,000 boepd.

Kosmos Energy Ltd. (NYSE:KOS) is an oil and gas exploration and production company focused on deepwater fields. The company holds interests in multiple offshore assets across West Africa.

While we acknowledge the potential of KOS to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than KOS and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.