Peel Hunt reaffirmed their buy rating on shares of Cairn Energy (LON:CNE) in a report published on Wednesday. They currently have a GBX 240 ($3.21) price target on the oil and gas development company’s stock.
Other research analysts have also issued research reports about the company. Numis Securities reaffirmed a buy rating and set a GBX 270 ($3.61) price target on shares of Cairn Energy in a research report on Monday, September 11th. Deutsche Bank reaffirmed a buy rating and set a GBX 240 ($3.21) price target on shares of Cairn Energy in a research report on Friday, September 8th. Jefferies Group dropped their target price on Cairn Energy from GBX 300 ($4.01) to GBX 225 ($3.01) and set a buy rating on the stock in a report on Tuesday, August 29th. Credit Suisse Group reissued an outperform rating and issued a GBX 260 ($3.48) target price on shares of Cairn Energy in a report on Tuesday, September 19th. Finally, Macquarie reissued an outperform rating and issued a GBX 242 ($3.24) target price on shares of Cairn Energy in a report on Tuesday, September 12th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of GBX 245.42 ($3.28).
Cairn Energy (LON CNE) opened at GBX 213.80 ($2.86) on Wednesday. The company has a market capitalization of $1,280.00 and a P/E ratio of 647.88. Cairn Energy has a 12-month low of GBX 164.20 ($2.20) and a 12-month high of GBX 250.60 ($3.35).
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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