Peel Hunt Reaffirms Buy Rating for Cairn Energy (LON:CNE)
Peel Hunt reiterated their buy rating on shares of Cairn Energy (LON:CNE) in a report published on Tuesday morning, Digital Look reports. They currently have a GBX 220 ($2.87) price objective on the oil and gas development company’s stock.
Several other analysts also recently weighed in on CNE. UBS Group reiterated a buy rating on shares of Cairn Energy in a research note on Friday, September 6th. HSBC initiated coverage on Cairn Energy in a research note on Tuesday, May 28th. They set a buy rating and a GBX 210 ($2.74) price target on the stock. Berenberg Bank reiterated a buy rating and set a GBX 190 ($2.48) price target on shares of Cairn Energy in a research note on Tuesday, May 21st. Barclays reiterated an overweight rating and set a GBX 245 ($3.20) price target on shares of Cairn Energy in a research note on Friday, August 16th. Finally, Morgan Stanley dropped their price target on Cairn Energy from GBX 202 ($2.64) to GBX 194 ($2.53) and set an equal weight rating on the stock in a research note on Friday, September 6th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of GBX 221.38 ($2.89).
Cairn Energy stock opened at GBX 185.90 ($2.43) on Tuesday. The company has a debt-to-equity ratio of 19.21, a quick ratio of 1.08 and a current ratio of 1.40. The business’s 50-day simple moving average is GBX 162.66 and its two-hundred day simple moving average is GBX 167.03. The company has a market cap of $1.10 billion and a PE ratio of -0.95. Cairn Energy has a fifty-two week low of GBX 138 ($1.80) and a fifty-two week high of GBX 238 ($3.11).
Cairn Energy PLC operates as an oil and gas exploration, development, and production company. The company holds a portfolio of exploration, development, and production assets in the United Kingdom; Norway; and the Atlantic Margin, including Senegal, Mexico, Suriname, Côte d'Ivoire, Mauritania, and the Republic of Ireland.
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