Cairn Energy PLC (CNE) Given Buy Rating at Jefferies Group
Cairn Energy PLC (LON:CNE)‘s stock had its “buy” rating reiterated by research analysts at Jefferies Group in a note issued to investors on Thursday. They presently have a GBX 285 ($3.72) target price on the oil and gas development company’s stock. Jefferies Group’s price objective suggests a potential upside of 43.72% from the stock’s current price.
CNE has been the subject of several other reports. Deutsche Bank AG reiterated a “hold” rating and set a GBX 230 ($3.00) target price on shares of Cairn Energy PLC in a research report on Friday, July 15th. Goldman Sachs Group Inc. lifted their price target on shares of Cairn Energy PLC from GBX 191.50 ($2.50) to GBX 203.90 ($2.66) and gave the stock a “neutral” rating in a research note on Tuesday, June 28th. Canaccord Genuity raised shares of Cairn Energy PLC to a “buy” rating and set a GBX 230 ($3.00) price target on the stock in a research note on Friday, September 16th. Barclays PLC raised shares of Cairn Energy PLC to an “overweight” rating and lifted their price target for the stock from GBX 260 ($3.39) to GBX 275 ($3.59) in a research note on Friday, July 15th. Finally, Numis Securities Ltd reissued an “add” rating and set a GBX 210 ($2.74) price target on shares of Cairn Energy PLC in a research note on Tuesday, August 16th. Fourteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Cairn Energy PLC currently has an average rating of “Hold” and a consensus price target of GBX 213.68 ($2.79).
Shares of Cairn Energy PLC (LON:CNE) traded up 0.30% during trading on Thursday, hitting GBX 198.30. 1,687,252 shares of the stock were exchanged. The stock’s market cap is GBX 1.14 billion. The firm’s 50 day moving average price is GBX 189.15 and its 200-day moving average price is GBX 197.27. Cairn Energy PLC has a 52 week low of GBX 124.70 and a 52 week high of GBX 232.00.
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Cairn Energy PLC Company Profile
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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