Cairn Energy (LON:CNE) Downgraded by Jefferies Group

Jefferies Group cut shares of Cairn Energy (LON:CNE) to a hold rating in a research report report published on Wednesday, December 20th. The firm currently has GBX 235 ($3.19) price objective on the oil and gas development company’s stock, up from their prior price objective of GBX 225 ($3.05).

Several other research analysts also recently weighed in on CNE. Royal Bank of Canada cut their target price on shares of Cairn Energy from GBX 270 ($3.66) to GBX 230 ($3.12) and set an outperform rating for the company in a research note on Tuesday, August 22nd. GMP Securities reissued a buy rating on shares of Cairn Energy in a research report on Tuesday, August 22nd. Credit Suisse Group dropped their target price on shares of Cairn Energy from GBX 280 ($3.80) to GBX 260 ($3.53) and set an outperform rating for the company in a research report on Wednesday, August 23rd. Deutsche Bank increased their target price on shares of Cairn Energy from GBX 235 ($3.19) to GBX 240 ($3.25) and gave the stock a buy rating in a research report on Wednesday, August 23rd. Finally, JPMorgan Chase & Co. reissued an overweight rating and set a GBX 228 ($3.09) target price on shares of Cairn Energy in a research report on Wednesday, August 23rd. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Cairn Energy currently has an average rating of Buy and a consensus price target of GBX 245.91 ($3.33).

Shares of Cairn Energy (LON CNE) traded up GBX 5.80 ($0.08) during mid-day trading on Wednesday, reaching GBX 232.20 ($3.15). 2,131,895 shares of the company’s stock traded hands, compared to its average volume of 1,150,000. Cairn Energy has a one year low of GBX 164.20 ($2.23) and a one year high of GBX 249 ($3.38). The stock has a market capitalization of $1,360.00 and a price-to-earnings ratio of 725.63.

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About Cairn Energy

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.

Analyst Recommendations for Cairn Energy (LON:CNE)

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