Cairn Energy (CNE) Earns “Buy” Rating from Peel Hunt

Peel Hunt reissued their buy rating on shares of Cairn Energy (LON:CNE) in a research report sent to investors on Tuesday. They currently have a GBX 250 ($3.58) price target on the oil and gas development company’s stock.

Other equities research analysts have also issued research reports about the company. Numis Securities reissued a buy rating and issued a GBX 270 ($3.87) target price on shares of Cairn Energy in a research note on Thursday, February 1st. Barclays reissued an overweight rating on shares of Cairn Energy in a research note on Wednesday, March 14th. Canaccord Genuity upped their price target on Cairn Energy from GBX 250 ($3.58) to GBX 260 ($3.72) and gave the company a buy rating in a research report on Wednesday, January 24th. Whitman Howard reaffirmed a buy rating on shares of Cairn Energy in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada upped their price target on Cairn Energy from GBX 245 ($3.51) to GBX 300 ($4.30) and gave the company an outperform rating in a research report on Monday, January 29th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Cairn Energy presently has an average rating of Buy and a consensus target price of GBX 259.08 ($3.71).

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LON CNE opened at GBX 222.60 ($3.19) on Tuesday. Cairn Energy has a 1-year low of GBX 164.20 ($2.35) and a 1-year high of GBX 237 ($3.39).

In other Cairn Energy news, insider James Smith sold 209,599 shares of the company’s stock in a transaction that occurred on Tuesday, March 27th. The stock was sold at an average price of GBX 210 ($3.01), for a total transaction of £440,157.90 ($630,237.54).

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About Cairn Energy

Cairn Energy PLC operates as an oil and gas exploration, development, and production company. It primarily holds interests in Senegal, the United Kingdom, Norway, Malta, Morocco, and the Republic of Ireland. The company also holds interests in two licenses covering an area of 1,100 km located in the Sureste basin, Gulf of Mexico.

Analyst Recommendations for Cairn Energy (LON:CNE)

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