Cairn Energy’s (CNE) Buy Rating Reaffirmed at Numis Securities

Cairn Energy (LON:CNE)‘s stock had its “buy” rating restated by equities researchers at Numis Securities in a report released on Thursday. They presently have a GBX 270 ($3.79) target price on the oil and gas development company’s stock. Numis Securities’ price objective would indicate a potential upside of 29.93% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Jefferies Group reiterated a “buy” rating and set a GBX 225 ($3.16) price objective on shares of Cairn Energy in a research report on Wednesday, October 4th. Deutsche Bank lowered their price objective on shares of Cairn Energy from GBX 240 ($3.37) to GBX 230 ($3.23) and set a “buy” rating for the company in a research report on Friday, October 13th. Credit Suisse Group reiterated an “outperform” rating and set a GBX 260 ($3.65) price objective on shares of Cairn Energy in a research report on Friday, November 3rd. Barclays reiterated an “overweight” rating and set a GBX 250 ($3.51) price objective on shares of Cairn Energy in a research report on Wednesday, November 22nd. Finally, Peel Hunt reiterated a “buy” rating and set a GBX 240 ($3.37) price objective on shares of Cairn Energy in a research report on Wednesday, December 27th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of GBX 257.80 ($3.62).

Shares of Cairn Energy (LON:CNE) traded up GBX 1 ($0.01) during trading hours on Thursday, hitting GBX 207.80 ($2.92). 519,352 shares of the stock traded hands, compared to its average volume of 1,350,000. The firm has a market cap of $1,220.00 and a PE ratio of 670.32. Cairn Energy has a one year low of GBX 164.20 ($2.31) and a one year high of GBX 245.40 ($3.45).

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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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