Cairn Energy PLC (LON:CNE) Receives GBX 227 Average Price Target from Brokerages
Shares of Cairn Energy PLC (LON:CNE) have received an average rating of “Buy” from the fourteen ratings firms that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is GBX 227 ($2.97).
Several research firms have weighed in on CNE. Berenberg Bank lowered their price target on BT Group from GBX 260 ($3.40) to GBX 240 ($3.14) and set a “hold” rating on the stock in a research report on Tuesday, May 21st. HSBC initiated coverage on Tullow Oil in a report on Tuesday, May 28th. They issued a “hold” rating for the company. JPMorgan Chase & Co. set a €28.20 ($32.79) target price on AXA and gave the stock a “buy” rating in a report on Thursday, May 2nd. Canaccord Genuity raised Nuvista Energy to a “buy” rating in a report on Tuesday, April 9th. Finally, Barclays set a €45.00 ($52.33) target price on Zalando and gave the stock a “buy” rating in a report on Tuesday, April 16th.
In related news, insider James Smith bought 1,123 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were bought at an average price of GBX 160 ($2.09) per share, for a total transaction of £1,796.80 ($2,347.84).
About Cairn Energy
Cairn Energy PLC operates as an oil and gas exploration, development, and production company. The company holds a portfolio of exploration, development, and production assets in the United Kingdom; Norway; and the Atlantic Margin, including Senegal, Mexico, Suriname, Côte d'Ivoire, Mauritania, and the Republic of Ireland.
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