Cairn Energy PLC (CNE) Earns Buy Rating from Jefferies Group
Cairn Energy PLC (LON:CNE)‘s stock had its “buy” rating reissued by research analysts at Jefferies Group in a note issued to investors on Thursday. They presently have a GBX 285 ($3.72) price target on the oil and gas development company’s stock. Jefferies Group’s target price indicates a potential upside of 45.85% from the stock’s current price.
Other analysts have also recently issued reports about the company. Credit Suisse Group AG reaffirmed a “neutral” rating and issued a GBX 215 ($2.81) price target on shares of Cairn Energy PLC in a research note on Wednesday, August 17th. Barclays PLC upgraded Cairn Energy PLC to an “overweight” rating and boosted their price objective for the company from GBX 260 ($3.39) to GBX 275 ($3.59) in a research report on Friday, July 15th. Mirabaud Securities reiterated a “buy” rating and issued a GBX 240 ($3.13) price objective on shares of Cairn Energy PLC in a research report on Tuesday, August 2nd. Royal Bank Of Canada upgraded Cairn Energy PLC to an “outperform” rating and set a GBX 260 ($3.39) price objective for the company in a research report on Thursday, July 28th. Finally, JPMorgan Chase & Co. boosted their price objective on 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. Fourteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Cairn Energy PLC has an average rating of “Hold” and a consensus target price of GBX 213.68 ($2.79).
Cairn Energy PLC (LON:CNE) opened at 195.40 on Thursday. Cairn Energy PLC has a 12 month low of GBX 124.70 and a 12 month high of GBX 232.00. The company’s market cap is GBX 1.12 billion. The company’s 50-day moving average is GBX 189.61 and its 200 day moving average is GBX 197.26.
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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