UBS Reiterates “Buy” Rating for Cairn Energy (CNE)

Cairn Energy (LON:CNE)‘s stock had its “buy” rating restated by research analysts at UBS in a report issued on Wednesday, investing.thisismoney.co.uk reports. They presently have a GBX 260 ($3.65) price objective on the oil and gas development company’s stock. UBS’s target price indicates a potential upside of 20.26% from the company’s current price.

A number of other equities research analysts also recently weighed in on CNE. Peel Hunt reaffirmed a “buy” rating and set a GBX 250 ($3.51) price target on shares of Cairn Energy in a research note on Tuesday, March 27th. Numis Securities raised their price target on Cairn Energy from GBX 255 ($3.58) to GBX 270 ($3.79) and gave the stock a “buy” rating in a research note on Wednesday, January 24th. JPMorgan Chase raised their price target on Cairn Energy from GBX 228 ($3.20) to GBX 241 ($3.38) and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Credit Suisse Group reaffirmed an “outperform” rating and set a GBX 260 ($3.65) price target on shares of Cairn Energy in a research note on Monday, January 8th. Finally, Canaccord Genuity raised their price target on Cairn Energy from GBX 250 ($3.51) to GBX 260 ($3.65) and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of GBX 259.08 ($3.64).

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Shares of Cairn Energy stock opened at GBX 216.20 ($3.03) on Wednesday. Cairn Energy has a 1 year low of GBX 164.20 ($2.30) and a 1 year high of GBX 237 ($3.33).

In other news, insider James Smith sold 209,599 shares of the stock in a transaction dated Tuesday, March 27th. The stock was sold at an average price of GBX 210 ($2.95), for a total transaction of £440,157.90 ($617,852.19).

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Cairn Energy Company Profile

Cairn Energy PLC operates as an oil and gas exploration, development, and production company. It primarily holds interests in Senegal, the United Kingdom, Norway, Malta, Morocco, and the Republic of Ireland. The company also holds interests in two licenses covering an area of 1,100 km located in the Sureste basin, Gulf of Mexico.

Analyst Recommendations for Cairn Energy (LON:CNE)

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