Canaccord Genuity upgraded shares of Cairn Energy PLC (LON:CNE) to a buy rating in a research report sent to investors on Friday morning. They currently have GBX 230 ($3.00) price objective on the oil and gas development company’s stock.

Analyst Recommendations for Cairn Energy PLC (LON:CNE)

Several other equities research analysts also recently weighed in on CNE. Deutsche Bank AG reissued a buy rating and issued a GBX 220 ($2.87) target price on shares of Cairn Energy PLC in a research note on Thursday, May 19th. JPMorgan Chase & Co. reissued an overweight rating and issued a GBX 220 ($2.87) target price on shares of Cairn Energy PLC in a research note on Friday, May 20th. Royal Bank Of Canada downgraded shares of Cairn Energy PLC to a sector performer rating and reduced their target price for the company from GBX 260 ($3.39) to GBX 250 ($3.26) in a research note on Monday, June 6th. Barclays PLC increased their target price on shares of Cairn Energy PLC from GBX 230 ($3.00) to GBX 240 ($3.13) and gave the company an equal weight rating in a research note on Thursday, June 9th. Finally, Goldman Sachs Group Inc. increased their target price on shares of Cairn Energy PLC from GBX 191.50 ($2.50) to GBX 203.90 ($2.66) and gave the company a neutral rating in a research note on Tuesday, June 28th. Fourteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of GBX 213.68 ($2.79).

Cairn Energy PLC (LON:CNE) opened at 182.40 on Friday. The stock’s market capitalization is GBX 1.04 billion. Cairn Energy PLC has a one year low of GBX 124.70 and a one year high of GBX 232.00. The firm has a 50-day moving average of GBX 189.69 and a 200 day moving average of GBX 197.48.

About Cairn Energy PLC

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.

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