Cairn Energy (LON:CNE) had its price target upped by Barclays from GBX 250 ($3.39) to GBX 265 ($3.59) in a note issued to investors on Monday. The brokerage currently has an “overweight” rating on the oil and gas development company’s stock. Barclays’ target price would suggest a potential upside of 18.83% from the stock’s previous close.
Several other brokerages have also recently commented on CNE. Credit Suisse Group reaffirmed an “outperform” rating and issued a GBX 260 ($3.53) target price on shares of Cairn Energy in a research report on Monday, January 8th. Peel Hunt raised their target price on Cairn Energy from GBX 240 ($3.25) to GBX 260 ($3.53) and gave the stock a “buy” rating in a research report on Monday, January 8th. Jefferies Group cut Cairn Energy to a “hold” rating and raised their target price for the stock from GBX 225 ($3.05) to GBX 235 ($3.19) in a research report on Wednesday, December 20th. Numis Securities reduced their target price on Cairn Energy from GBX 270 ($3.66) to GBX 260 ($3.53) and set a “buy” rating for the company in a research report on Monday, October 23rd. Finally, Deutsche Bank reduced their target price on Cairn Energy from GBX 240 ($3.25) to GBX 230 ($3.12) and set a “buy” rating for the company in a research report on Friday, October 13th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of GBX 247.27 ($3.35).
Cairn Energy (LON CNE) opened at GBX 223 ($3.02) on Monday. The company has a market capitalization of $1,300.00 and a price-to-earnings ratio of 696.88. Cairn Energy has a 12-month low of GBX 164.20 ($2.23) and a 12-month high of GBX 249 ($3.38).
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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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