Cairn Energy (CNE) Upgraded by Peel Hunt to Buy

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Peel Hunt upgraded shares of Cairn Energy (LON:CNE) to a buy rating in a research report released on Tuesday. Peel Hunt currently has GBX 220 ($2.87) price target on the oil and gas development company’s stock, down from their previous price target of GBX 260 ($3.40).

Other equities research analysts have also issued research reports about the company. Berenberg Bank started coverage on Cairn Energy in a research note on Thursday, November 1st. They set a buy rating and a GBX 240 ($3.14) price objective for the company. UBS Group reissued a buy rating and set a GBX 280 ($3.66) price objective (down previously from GBX 300 ($3.92)) on shares of Cairn Energy in a research note on Tuesday, December 11th. Citigroup reissued a buy rating on shares of Cairn Energy in a research note on Wednesday, September 12th. Jefferies Financial Group raised Cairn Energy to a hold rating and dropped their price objective for the company from GBX 190 ($2.48) to GBX 165 ($2.16) in a research note on Friday, December 14th. Finally, BNP Paribas dropped their price objective on Cairn Energy from GBX 290 ($3.79) to GBX 190 ($2.48) and set a neutral rating for the company in a research note on Monday, December 10th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of GBX 252.61 ($3.30).

LON:CNE opened at GBX 185.08 ($2.42) on Tuesday. Cairn Energy has a 52-week low of GBX 164.20 ($2.15) and a 52-week high of GBX 237 ($3.10).

In related news, insider Simon Thomson acquired 31,812 shares of the firm’s stock in a transaction dated Tuesday, December 11th. The shares were purchased at an average price of GBX 156 ($2.04) per share, for a total transaction of £49,626.72 ($64,846.10).

Cairn Energy Company Profile

Cairn Energy PLC operates as an oil and gas exploration and production company. It holds a portfolio of exploration, development, and production assets in the United Kingdom; Norway; Mexico; and the Atlantic Margin, including Senegal and the Republic of Ireland. The company was incorporated in 2002 and is headquartered in Edinburgh, the United Kingdom.

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Analyst Recommendations for Cairn Energy (LON:CNE)

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