Cairn Energy (CNE) Given “Outperform” Rating at Credit Suisse Group

Credit Suisse Group restated their outperform rating on shares of Cairn Energy (LON:CNE) in a research note released on Monday, January 8th. They currently have a GBX 260 ($3.53) target price on the oil and gas development company’s stock.

Several other research firms have also weighed in on CNE. Peel Hunt boosted their target price on Cairn Energy from GBX 240 ($3.25) to GBX 260 ($3.53) and gave the stock a buy rating in a report on Monday, January 8th. Barclays reiterated an overweight rating and set a GBX 250 ($3.39) price target on shares of Cairn Energy in a report on Wednesday, November 22nd. Jefferies Group cut Cairn Energy to a hold rating and boosted their price objective 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 price target 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 decreased 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 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).

Shares of Cairn Energy (CNE) traded up GBX 2.80 ($0.04) during trading on Monday, hitting GBX 236.20 ($3.20). The stock had a trading volume of 779,351 shares, compared to its average volume of 1,240,000. The firm has a market cap of $1,360.00 and a price-to-earnings ratio of 738.13. Cairn Energy has a fifty-two week low of GBX 164.20 ($2.23) and a fifty-two week 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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