Brokerages Set Cairn Energy PLC (CNE) Target Price at $252.61

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Shares of Cairn Energy PLC (LON:CNE) have earned an average rating of “Buy” from the seventeen analysts that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is GBX 252.61 ($3.30).

A number of brokerages have recently issued reports on CNE. Jefferies Financial Group lowered shares of Cairn Energy to an “underperform” rating and set a GBX 190 ($2.48) target price on the stock. in a research report on Monday, October 22nd. Barclays decreased their price target on Cairn Energy from GBX 300 ($3.92) to GBX 280 ($3.66) and set an “overweight” rating for the company in a report on Thursday. Peel Hunt reaffirmed an “add” rating on shares of Cairn Energy in a report on Monday, December 17th. Morgan Stanley increased their price target on Cairn Energy from GBX 300 ($3.92) to GBX 350 ($4.57) and gave the stock an “overweight” rating in a report on Thursday, October 18th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Cairn Energy in a report on Friday, October 26th.

Shares of Cairn Energy stock opened at GBX 175.10 ($2.29) on Friday. 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 company’s stock in a transaction that occurred on Tuesday, December 11th. The stock was purchased at an average price of GBX 156 ($2.04) per share, for a total transaction of £49,626.72 ($64,846.10).

About Cairn Energy

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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