Cairn Energy (CNE) Upgraded by Peel Hunt to Buy

Peel Hunt upgraded shares of Cairn Energy (LON:CNE) to a buy rating in a research note issued to investors on Tuesday. They currently have GBX 220 ($2.87) price target on the oil and gas development company’s stock, down from their previous price target of GBX 260 ($3.40).

A number of other analysts have also issued reports on CNE. Citigroup reissued a buy rating on shares of Cairn Energy in a research report on Wednesday, September 12th. JPMorgan Chase & Co. boosted their target price on Cairn Energy from GBX 241 ($3.15) to GBX 306 ($4.00) and gave the company an overweight rating in a research report on Wednesday, September 12th. Barclays cut their target price on Cairn Energy from GBX 335 ($4.38) to GBX 295 ($3.85) and set an overweight rating on the stock in a research report on Wednesday, September 12th. Morgan Stanley boosted their target price on Cairn Energy from GBX 300 ($3.92) to GBX 350 ($4.57) and gave the company an overweight rating in a research report on Thursday, October 18th. Finally, Jefferies Financial Group lowered Cairn Energy to an underperform rating and set a GBX 190 ($2.48) price objective on the stock. in a research report on Monday, October 22nd. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Cairn Energy presently has a consensus rating of Buy and an average price target of GBX 252.61 ($3.30).

Shares of LON CNE opened at GBX 182.30 ($2.38) on Tuesday. Cairn Energy has a 52-week low of GBX 164.20 ($2.15) and a 52-week high of GBX 237 ($3.10).

In other news, insider Simon Thomson bought 31,812 shares of the stock in a transaction that occurred on Tuesday, December 11th. The stock was purchased at an average price of GBX 156 ($2.04) per share, for a total transaction of £49,626.72 ($64,846.10).

Cairn Energy Company Profile

Cairn Energy PLC operates as an oil and gas exploration and production company. It holds a portfolio of exploration, development, and production assets in the United Kingdom; Norway; Mexico; and the Atlantic Margin, including Senegal and the Republic of Ireland. The company was incorporated in 2002 and is headquartered in Edinburgh, the United Kingdom.

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Analyst Recommendations for Cairn Energy (LON:CNE)

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