Cairn Energy PLC’s (CNE) Buy Rating Reiterated at Jefferies Group
Jefferies Group reissued their buy rating on shares of Cairn Energy PLC (LON:CNE) in a research note published on Thursday. They currently have a GBX 285 ($3.72) price target on the oil and gas development company’s stock.
Several other research firms also recently issued reports on CNE. Deutsche Bank AG reaffirmed a hold rating and set a GBX 230 ($3.00) price objective on shares of Cairn Energy PLC in a report on Friday, August 12th. Mirabaud Securities reaffirmed a buy rating and set a GBX 240 ($3.13) price objective on shares of Cairn Energy PLC in a report on Tuesday, August 2nd. JPMorgan Chase & Co. increased their target price on shares of Cairn Energy PLC from GBX 227 ($2.96) to GBX 235 ($3.07) and gave the company an overweight rating in a research report on Wednesday, August 17th. Credit Suisse Group AG reiterated a neutral rating and issued a GBX 215 ($2.81) target price on shares of Cairn Energy PLC in a research report on Wednesday, August 17th. Finally, Royal Bank Of Canada cut shares of Cairn Energy PLC to a sector performer rating and reduced their target price for the company from GBX 260 ($3.39) to GBX 250 ($3.26) in a research report on Monday, June 6th. Fourteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of GBX 213.68 ($2.79).
Shares of Cairn Energy PLC (LON:CNE) opened at 181.60 on Thursday. The stock’s market capitalization is GBX 1.04 billion. Cairn Energy PLC has a 52-week low of GBX 124.70 and a 52-week high of GBX 232.00. The firm has a 50-day moving average of GBX 189.89 and a 200 day moving average of GBX 197.40.
About Cairn Energy PLC
Cairn Energy PLC (Cairn) is a United Kingdom-based independent oil and gas exploration and development company. The Company’s portfolio is focused on approximately three geographical regions, such as North West Europe, the Atlantic Margin and the Mediterranean. Cairn has exploration and appraisal assets in the Atlantic Margin, North West Europe and the Mediterranean, and core development assets in the North Sea.
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