Credit Suisse Group Reiterates Outperform Rating for Cairn Energy (CNE)
Cairn Energy (LON:CNE)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Credit Suisse Group in a research note issued on Thursday. They currently have a GBX 260 ($3.50) price objective on the oil and gas development company’s stock. Credit Suisse Group’s price target points to a potential upside of 24.18% from the stock’s current price.
CNE has been the topic of a number of other reports. Macquarie restated an “outperform” rating and set a GBX 242 ($3.26) price objective on shares of Cairn Energy in a research note on Tuesday, September 12th. Jefferies Group reaffirmed a “buy” rating and set a GBX 225 ($3.03) target price on shares of Cairn Energy in a report on Wednesday, October 4th. Barclays reaffirmed an “overweight” rating and set a GBX 250 ($3.36) target price on shares of Cairn Energy in a report on Wednesday, November 22nd. Numis Securities reaffirmed a “buy” rating and set a GBX 270 ($3.63) target price on shares of Cairn Energy in a report on Monday, September 11th. Finally, Peel Hunt reaffirmed a “buy” rating and set a GBX 240 ($3.23) target price on shares of Cairn Energy in a report on Monday, October 2nd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of GBX 243.94 ($3.28).
Shares of Cairn Energy (CNE) traded down GBX 0.52 ($0.01) during midday trading on Thursday, hitting GBX 209.38 ($2.82). 582,943 shares of the company were exchanged, compared to its average volume of 1,600,000. Cairn Energy has a fifty-two week low of GBX 164.20 ($2.21) and a fifty-two week high of GBX 250.60 ($3.37).
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Cairn Energy 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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