Credit Suisse Group reaffirmed their outperform rating on shares of Cairn Energy (LON:CNE) in a research report released on Monday, January 8th. The firm currently has a GBX 260 ($3.65) price objective on the oil and gas development company’s stock.
CNE has been the topic of several other reports. Macquarie restated an outperform rating and issued a GBX 242 ($3.40) price objective on shares of Cairn Energy in a report on Tuesday, September 12th. Jefferies Group reiterated a buy rating and set a GBX 225 ($3.16) target price on shares of Cairn Energy in a report on Wednesday, October 4th. Barclays reiterated an overweight rating and set a GBX 250 ($3.51) target price on shares of Cairn Energy in a report on Wednesday, November 22nd. Peel Hunt reiterated a buy rating and set a GBX 240 ($3.37) target price on shares of Cairn Energy in a report on Wednesday, December 27th. Finally, Numis Securities reiterated a buy rating and set a GBX 270 ($3.79) target price on shares of Cairn Energy in a report on Monday, September 11th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Cairn Energy has an average rating of Buy and a consensus target price of GBX 257.80 ($3.62).
Shares of Cairn Energy (CNE) traded up GBX 1.40 ($0.02) during midday trading on Monday, reaching GBX 208.20 ($2.92). 1,044,770 shares of the company traded hands, compared to its average volume of 1,360,000. Cairn Energy has a one year low of GBX 164.20 ($2.31) and a one year high of GBX 245.40 ($3.45). The stock has a market cap of $1,210.00 and a PE ratio of 671.61.
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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.
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