Cairn Energy (CNE) Rating Reiterated by Peel Hunt
Cairn Energy (LON:CNE)‘s stock had its “buy” rating reissued by Peel Hunt in a report released on Tuesday. They presently have a GBX 250 ($3.58) price objective on the oil and gas development company’s stock. Peel Hunt’s price target would suggest a potential upside of 15.96% from the stock’s current price.
CNE has been the topic of a number of other research reports. Deutsche Bank reaffirmed a “hold” rating on shares of Cairn Energy in a report on Tuesday, February 20th. BNP Paribas raised their price objective on shares of Cairn Energy from GBX 201 ($2.88) to GBX 230 ($3.29) and gave the company an “outperform” rating in a research note on Thursday, April 5th. Numis Securities raised their price objective on shares of Cairn Energy from GBX 255 ($3.65) to GBX 270 ($3.87) and gave the company a “buy” rating in a research note on Wednesday, January 24th. Credit Suisse Group reiterated an “outperform” rating and set a GBX 260 ($3.72) price objective on shares of Cairn Energy in a research note on Tuesday, February 27th. Finally, Royal Bank of Canada raised their price objective on shares of Cairn Energy from GBX 245 ($3.51) to GBX 300 ($4.30) and gave the company an “outperform” rating in a research note on Monday, January 29th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of GBX 259.08 ($3.71).
CNE opened at GBX 215.60 ($3.09) on Tuesday. Cairn Energy has a twelve month low of GBX 164.20 ($2.35) and a twelve month high of GBX 237 ($3.39).
About Cairn Energy
Cairn Energy PLC operates as an oil and gas exploration, development, and production company. It primarily holds interests in Senegal, the United Kingdom, Norway, Malta, Morocco, and the Republic of Ireland. The company also holds interests in two licenses covering an area of 1,100 km located in the Sureste basin, Gulf of Mexico.
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