Cairn Energy (CNE) Stock Rating Reaffirmed by JPMorgan Chase & Co.
Cairn Energy (LON:CNE)‘s stock had its “overweight” rating reiterated by stock analysts at JPMorgan Chase & Co. in a research note issued on Wednesday. They presently have a GBX 241 ($3.33) price objective on the oil and gas development company’s stock. JPMorgan Chase & Co.’s price target suggests a potential upside of 24.61% from the company’s current price.
CNE has been the topic of a number of other reports. Peel Hunt increased their price target on shares of Cairn Energy from GBX 240 ($3.32) to GBX 260 ($3.59) and gave the stock a “buy” rating in a report on Monday, January 8th. Barclays reissued an “overweight” rating and set a GBX 250 ($3.45) price target on shares of Cairn Energy in a report on Wednesday, November 22nd. Credit Suisse Group reissued an “outperform” rating and set a GBX 260 ($3.59) price target on shares of Cairn Energy in a report on Tuesday, February 27th. Deutsche Bank restated a “hold” rating on shares of Cairn Energy in a research report on Tuesday, February 20th. Finally, Jefferies Group cut shares of Cairn Energy to a “hold” rating and upped their price objective for the stock from GBX 225 ($3.11) to GBX 235 ($3.25) in a research report on Wednesday, December 20th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of GBX 261.64 ($3.61).
Shares of Cairn Energy (LON:CNE) opened at GBX 193.40 ($2.67) on Wednesday. Cairn Energy has a twelve month low of GBX 164.20 ($2.27) and a twelve month high of GBX 237 ($3.27). The stock has a market cap of $1,130.00 and a price-to-earnings ratio of 623.87.
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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