Cairn Energy PLC (CNE) Receives Buy Rating from Jefferies Group
Jefferies Group reissued their buy rating on shares of Cairn Energy PLC (LON:CNE) in a research report sent to investors on Thursday. They currently have a GBX 285 ($3.72) price objective on the oil and gas development company’s stock.
A number of other equities analysts have also issued reports on CNE. Barclays PLC raised their price target on Cairn Energy PLC from GBX 230 ($3.00) to GBX 240 ($3.13) and gave the stock an equal weight rating in a report on Thursday, June 9th. Goldman Sachs Group Inc. raised their price target on Cairn Energy PLC from GBX 191.50 ($2.50) to GBX 203.90 ($2.66) and gave the stock a neutral rating in a report on Tuesday, June 28th. Liberum Capital raised their price target on Cairn Energy PLC from GBX 175 ($2.28) to GBX 209 ($2.73) and gave the stock a hold rating in a report on Wednesday, June 29th. Deutsche Bank AG reissued a hold rating and set a GBX 230 ($3.00) price target on shares of Cairn Energy PLC in a report on Friday, July 15th. Finally, JPMorgan Chase & Co. reaffirmed an overweight rating and issued a GBX 227 ($2.96) price objective on shares of Cairn Energy PLC in a report on Friday, July 15th. Fourteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Cairn Energy PLC has a consensus rating of Hold and a consensus target price of GBX 213.68 ($2.79).
Shares of Cairn Energy PLC (LON:CNE) traded up 0.30% during midday trading on Thursday, reaching GBX 198.30. The company’s stock had a trading volume of 1,679,561 shares. The stock’s 50-day moving average is GBX 189.44 and its 200-day moving average is GBX 197.26. Cairn Energy PLC has a one year low of GBX 124.70 and a one year high of GBX 232.00. The company’s market capitalization is GBX 1.14 billion.
Cairn Energy PLC 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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