Cairn Energy Receives “Outperform” Rating from Credit Suisse (CNE)
Cairn Energy (LON:CNE)‘s stock had its “outperform” rating restated by equities research analysts at Credit Suisse in a research note issued to investors on Tuesday, American Banking News reports. They currently have a GBX 307 ($5.11) price target on the stock. Credit Suisse’s price objective suggests a potential upside of 57.10% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Societe Generale reiterated a “hold” rating on shares of Cairn Energy in a research note on Monday, February 3rd. They now have a GBX 240 ($3.99) price target on the stock. Separately, analysts at Canaccord Genuity cut their price target on shares of Cairn Energy from GBX 285 ($4.74) to GBX 230 ($3.83) in a research note on Friday, January 31st. They now have a “hold” rating on the stock. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Cairn Energy from GBX 360 ($5.99) to GBX 315 ($5.24) in a research note on Friday, January 31st. They now have an “overweight” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of GBX 328.18 ($5.46).
Cairn Energy (LON:CNE) opened at 193.90 on Tuesday. Cairn Energy has a one year low of GBX 188.50 and a one year high of GBX 309.60. The stock has a 50-day moving average of GBX 229.9 and a 200-day moving average of GBX 261.3. The company’s market cap is £1.158 billion.
Cairn Energy PLC (LON:CNE) is an independent oil and gas exploration and development company.
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