Cairn Energy (CNE) Earns Buy Rating from Peel Hunt

Peel Hunt reiterated their buy rating on shares of Cairn Energy (LON:CNE) in a research note issued to investors on Tuesday morning.

A number of other brokerages also recently commented on CNE. Barclays increased their price target on Cairn Energy from GBX 250 ($3.39) to GBX 265 ($3.59) and gave the company an overweight rating in a report on Monday, January 15th. Royal Bank of Canada increased their price target on Cairn Energy from GBX 245 ($3.32) to GBX 300 ($4.07) and gave the company an outperform rating in a report on Monday, January 29th. Whitman Howard reissued a buy rating on shares of Cairn Energy in a report on Wednesday, January 24th. Canaccord Genuity increased their price target on Cairn Energy from GBX 250 ($3.39) to GBX 260 ($3.53) and gave the company a buy rating in a report on Wednesday, January 24th. Finally, JPMorgan Chase increased their price target on Cairn Energy from GBX 228 ($3.09) to GBX 241 ($3.27) and gave the company an overweight rating in a report on Wednesday, January 24th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of Buy and a consensus target price of GBX 261.16 ($3.54).

CNE stock opened at GBX 264.20 ($3.58) on Tuesday. Cairn Energy has a 1 year low of GBX 164.20 ($2.23) and a 1 year high of GBX 237 ($3.21).

In other news, insider Simon Thomson bought 777 shares of Cairn Energy stock in a transaction on Friday, May 4th. The shares were bought at an average price of GBX 232 ($3.15) per share, with a total value of £1,802.64 ($2,445.25). Also, insider James Smith sold 209,599 shares of the stock in a transaction that occurred on Tuesday, March 27th. The stock was sold at an average price of GBX 210 ($2.85), for a total value of £440,157.90 ($597,067.15).

About Cairn Energy

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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