Brokerages Set Cairn Energy PLC (CNE) PT at $252.61
Shares of Cairn Energy PLC (LON:CNE) have received an average recommendation of “Buy” from the seventeen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is GBX 252.61 ($3.30).
Several analysts have weighed in on the stock. Peel Hunt raised shares of Cairn Energy to a “buy” rating and dropped their target price for the stock from GBX 260 ($3.40) to GBX 220 ($2.87) in a research report on Tuesday, January 8th. Barclays dropped their target price on shares of Cairn Energy from GBX 300 ($3.92) to GBX 280 ($3.66) and set an “overweight” rating on the stock in a research report on Thursday. Berenberg Bank dropped their target price on shares of Cairn Energy from GBX 240 ($3.14) to GBX 190 ($2.48) and set a “buy” rating on the stock in a research report on Wednesday, January 9th. Jefferies Financial Group raised shares of Cairn Energy to a “hold” rating and dropped their target price for the stock from GBX 190 ($2.48) to GBX 165 ($2.16) in a research report on Friday, December 14th. Finally, UBS Group reissued a “buy” rating and set a GBX 280 ($3.66) target price (down previously from GBX 300 ($3.92)) on shares of Cairn Energy in a research report on Tuesday, December 11th.
In other Cairn Energy news, insider Simon Thomson acquired 31,812 shares of the firm’s stock in a transaction on Tuesday, December 11th. The stock was acquired at an average cost 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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