Cairn Energy PLC (CNE) Given Average Rating of “Buy” by Brokerages

Shares of Cairn Energy PLC (LON:CNE) have earned an average rating of “Buy” from the thirteen ratings firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is GBX 259.80 ($3.59).

CNE has been the subject of several research reports. Jefferies Group lowered Cairn Energy to a “hold” rating and lifted their target price for the stock from GBX 225 ($3.11) to GBX 235 ($3.25) in a research report on Wednesday, December 20th. Barclays restated an “overweight” rating and set a GBX 250 ($3.45) price objective on shares of Cairn Energy in a research report on Wednesday, November 22nd. Deutsche Bank restated a “hold” rating on shares of Cairn Energy in a research report on Tuesday, February 20th. Royal Bank of Canada boosted their price objective on Cairn Energy from GBX 245 ($3.38) to GBX 300 ($4.14) and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, Peel Hunt restated a “buy” rating and set a GBX 260 ($3.59) price objective on shares of Cairn Energy in a research report on Tuesday, January 23rd.

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Shares of Cairn Energy (LON CNE) traded up GBX 11.40 ($0.16) on Friday, hitting GBX 205 ($2.83). The stock had a trading volume of 3,231,578 shares, compared to its average volume of 1,590,000. The firm has a market cap of $1,150.00 and a price-to-earnings ratio of 640.63. Cairn Energy has a one year low of GBX 164.20 ($2.27) and a one year high of GBX 237 ($3.27).

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Cairn Energy 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.

Analyst Recommendations for Cairn Energy (LON:CNE)

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