Cairn Energy PLC (CNE) Rating Reiterated by Credit Suisse Group
Cairn Energy PLC (LON:CNE)‘s stock had its “outperform” rating reaffirmed by investment analysts at Credit Suisse Group in a report issued on Friday. They presently have a GBX 260 ($3.43) price target on the oil and gas development company’s stock. Credit Suisse Group’s target price suggests a potential upside of 19.49% from the company’s previous close.
A number of other research analysts have also recently commented on the company. Numis Securities Ltd decreased their price target on Cairn Energy PLC from GBX 270 ($3.56) to GBX 260 ($3.43) and set a “buy” rating on the stock in a research report on Monday, October 23rd. Deutsche Bank AG decreased their price target on Cairn Energy PLC from GBX 240 ($3.17) to GBX 230 ($3.04) and set a “buy” rating on the stock in a research report on Friday, October 13th. Jefferies Group LLC restated a “buy” rating and issued a GBX 225 ($2.97) price target on shares of Cairn Energy PLC in a research report on Wednesday, October 4th. Peel Hunt restated a “buy” rating and issued a GBX 240 ($3.17) price target on shares of Cairn Energy PLC in a research report on Monday, October 2nd. Finally, Macquarie restated an “outperform” rating and issued a GBX 242 ($3.19) price target on shares of Cairn Energy PLC in a research report on Tuesday, September 12th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of GBX 243.17 ($3.21).
Cairn Energy PLC (CNE) traded down GBX 0.90 ($0.01) during mid-day trading on Friday, reaching GBX 217.60 ($2.87). The company’s stock had a trading volume of 1,300,562 shares, compared to its average volume of 1,460,000. Cairn Energy PLC has a 1 year low of GBX 164.20 ($2.17) and a 1 year high of GBX 250.60 ($3.31).
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In other news, insider Peter Kallos purchased 10,982 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were purchased at an average cost of GBX 181 ($2.39) per share, with a total value of £19,877.42 ($26,230.43).
Cairn Energy PLC Company Profile
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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