Barclays Raises Cairn Energy (CNE) Price Target to GBX 265

Cairn Energy (LON:CNE) had its price target upped by equities researchers at Barclays from GBX 250 ($3.39) to GBX 265 ($3.59) in a research note issued to investors on Monday. The firm currently has an “overweight” rating on the oil and gas development company’s stock. Barclays’ price target suggests a potential upside of 12.00% from the company’s current price.

A number of other analysts also recently issued reports on the company. 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 lifted their target price on Cairn Energy from GBX 240 ($3.25) to GBX 260 ($3.53) and gave the company a “buy” rating in a research report on Monday, January 8th. Jefferies Group downgraded Cairn Energy to a “hold” rating and lifted their target price for the company from GBX 225 ($3.05) to GBX 235 ($3.19) in a research report on Wednesday, December 20th. Numis Securities lowered their target price on Cairn Energy from GBX 270 ($3.66) to GBX 260 ($3.53) and set a “buy” rating on the stock in a research report on Monday, October 23rd. Finally, Deutsche Bank lowered their target price on Cairn Energy from GBX 240 ($3.25) to GBX 230 ($3.12) and set a “buy” rating on the stock in a research report on Friday, October 13th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of GBX 247.27 ($3.35).

Cairn Energy (LON CNE) traded up GBX 3.20 ($0.04) during trading hours on Monday, hitting GBX 236.60 ($3.21). The company had a trading volume of 501,623 shares, compared to its average volume of 1,240,000. The firm has a market capitalization of $1,360.00 and a P/E ratio of 739.38. Cairn Energy has a twelve month low of GBX 164.20 ($2.23) and a twelve month high of GBX 249 ($3.38).

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About Cairn Energy

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.

Analyst Recommendations for Cairn Energy (LON:CNE)

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