Cairn Energy (CNE) Earns Overweight Rating from Barclays
A number of other equities analysts have also weighed in on CNE. Numis Securities decreased their target price on Cairn Energy from GBX 270 ($3.73) to GBX 260 ($3.59) and set a buy rating for the company in a research report on Monday, October 23rd. Credit Suisse Group reissued an outperform rating and issued a GBX 260 ($3.59) target price on shares of Cairn Energy in a research report on Friday, November 3rd. Jefferies Group lowered Cairn Energy to a hold rating and boosted their target price for the stock from GBX 225 ($3.11) to GBX 235 ($3.25) in a research report on Wednesday, December 20th. Peel Hunt reissued a buy rating and issued a GBX 240 ($3.32) target price on shares of Cairn Energy in a research report on Wednesday, December 27th. Finally, JPMorgan Chase & Co. boosted their target price on Cairn Energy from GBX 228 ($3.15) to GBX 241 ($3.33) and gave the stock an overweight rating in a research report on Wednesday, January 24th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of GBX 257.80 ($3.56).
Cairn Energy (LON:CNE) opened at GBX 188.30 ($2.60) on Tuesday. Cairn Energy has a 52-week low of GBX 164.20 ($2.27) and a 52-week high of GBX 237 ($3.27). The firm has a market capitalization of $1,100.00 and a PE ratio of 607.42.
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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