Cairn Energy’s (CNE) Add Rating Reiterated at Peel Hunt

Peel Hunt restated their add rating on shares of Cairn Energy (LON:CNE) in a research note issued to investors on Friday morning.

A number of other analysts have also commented on the company. Barclays lifted their target price on Cairn Energy from GBX 280 ($3.73) to GBX 290 ($3.86) and gave the stock an overweight rating in a report on Wednesday, March 21st. Morgan Stanley upgraded Cairn Energy to an overweight rating and raised their price target for the stock from GBX 270 ($3.59) to GBX 300 ($3.99) in a research note on Monday, March 12th. UBS Group restated a buy rating and issued a GBX 260 ($3.46) price target on shares of Cairn Energy in a research note on Wednesday, April 4th. Deutsche Bank restated a hold rating on shares of Cairn Energy in a research note on Tuesday, February 20th. Finally, Credit Suisse Group restated an outperform rating and issued a GBX 260 ($3.46) price target on shares of Cairn Energy in a research note on Tuesday, February 27th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of GBX 267.59 ($3.56).

Cairn Energy opened at GBX 222.40 ($2.96) on Friday, Marketbeat.com reports. Cairn Energy has a 12 month low of GBX 164.20 ($2.19) and a 12 month high of GBX 237 ($3.16).

In related news, insider Simon Thomson bought 777 shares of the stock in a transaction that occurred on Friday, May 4th. The shares were bought at an average cost of GBX 232 ($3.09) per share, for a total transaction of £1,802.64 ($2,400.00). Also, insider James Smith sold 209,599 shares of Cairn Energy stock in a transaction on Tuesday, March 27th. The shares were sold at an average price of GBX 210 ($2.80), for a total value of £440,157.90 ($586,017.71).

About Cairn Energy

Cairn Energy PLC operates as an oil and gas exploration and production company. It holds a portfolio of exploration, development, and production assets in the United Kingdom; Norway; Mexico; and the Atlantic Margin, including Senegal and the Republic of Ireland. The company was incorporated in 2002 and is headquartered in Edinburgh, the United Kingdom.

Analyst Recommendations for Cairn Energy (LON:CNE)

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