Cairn Energy (CNE) Given Buy Rating at Peel Hunt
Peel Hunt reiterated their buy rating on shares of Cairn Energy (LON:CNE) in a report published on Wednesday. Peel Hunt currently has a GBX 240 ($3.21) price objective on the oil and gas development company’s stock.
Other research analysts also recently issued research reports about the company. Numis Securities reaffirmed a buy rating and issued a GBX 270 ($3.61) price target on shares of Cairn Energy in a research note on Monday, September 11th. Deutsche Bank reaffirmed a buy rating and issued a GBX 240 ($3.21) price target on shares of Cairn Energy in a research note on Friday, September 8th. Jefferies Group dropped their price target on Cairn Energy from GBX 300 ($4.01) to GBX 225 ($3.01) and set a buy rating for the company in a research note on Tuesday, August 29th. Credit Suisse Group reaffirmed an outperform rating and issued a GBX 260 ($3.48) price target on shares of Cairn Energy in a research note on Tuesday, September 19th. Finally, Macquarie reaffirmed an outperform rating and issued a GBX 242 ($3.24) price target on shares of Cairn Energy in a research note on Tuesday, September 12th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Cairn Energy currently has a consensus rating of Buy and an average target price of GBX 245.42 ($3.28).
Shares of Cairn Energy (LON:CNE) opened at GBX 216.30 ($2.89) on Wednesday. The firm has a market cap of $1,280.00 and a P/E ratio of 655.45. Cairn Energy has a 52-week low of GBX 164.20 ($2.20) and a 52-week high of GBX 250.60 ($3.35).
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Cairn Energy Company Profile
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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