Cairn Energy (CNE) PT Raised to GBX 300 at Royal Bank of Canada

Cairn Energy (LON:CNE) had its price objective increased by Royal Bank of Canada from GBX 245 ($3.38) to GBX 300 ($4.14) in a research note released on Monday, January 29th. They currently have an outperform rating on the oil and gas development company’s stock.

Several other equities research analysts have also recently weighed in on CNE. Peel Hunt restated a buy rating and set a GBX 240 ($3.32) target price on shares of Cairn Energy in a research note on Monday, October 2nd. Numis Securities increased their price target on Cairn Energy from GBX 255 ($3.52) to GBX 270 ($3.73) and gave the company a buy rating in a research note on Wednesday, January 24th. JPMorgan Chase & Co. increased their price objective on Cairn Energy from GBX 228 ($3.15) to GBX 241 ($3.33) and gave the company an overweight rating in a report on Wednesday, January 24th. Jefferies Group restated a buy rating and issued a GBX 225 ($3.11) price objective on shares of Cairn Energy in a report on Wednesday, October 4th. Finally, Canaccord Genuity increased their price objective on Cairn Energy from GBX 250 ($3.45) to GBX 260 ($3.59) and gave the company a buy rating in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of GBX 257.80 ($3.56).

Shares of Cairn Energy (LON:CNE) traded down GBX 1.70 ($0.02) during mid-day trading on Monday, hitting GBX 183.80 ($2.54). The company had a trading volume of 1,447,828 shares, compared to its average volume of 1,570,000. Cairn Energy has a fifty-two week low of GBX 164.20 ($2.27) and a fifty-two week high of GBX 237.40 ($3.28). The company has a market capitalization of $1,070.00 and a PE ratio of 592.90.

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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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