Jefferies Group Reiterates Buy Rating for Cairn Energy PLC (CNE)
Cairn Energy PLC (LON:CNE)‘s stock had its “buy” rating restated by research analysts at Jefferies Group in a research note issued on Thursday. They currently have a GBX 285 ($3.80) target price on the oil and gas development company’s stock. Jefferies Group’s price objective would suggest a potential upside of 57.46% from the company’s previous close.
A number of other analysts have also commented on the company. Numis Securities Ltd reduced their target price on Cairn Energy PLC from GBX 215 ($2.86) to GBX 210 ($2.80) and set a “hold” rating for the company in a report on Monday, July 25th. Canaccord Genuity lowered Cairn Energy PLC to a “hold” rating and cut their price objective for the stock from GBX 240 ($3.20) to GBX 220 ($2.93) in a report on Tuesday, July 19th. Goldman Sachs Group Inc. lifted their price objective on Cairn Energy PLC from GBX 191.50 ($2.55) to GBX 203.90 ($2.72) and gave the stock a “neutral” rating in a report on Tuesday, June 28th. Mirabaud Securities reaffirmed a “buy” rating and issued a GBX 240 ($3.20) price objective on shares of Cairn Energy PLC in a report on Tuesday, August 2nd. Finally, Barclays PLC raised Cairn Energy PLC to an “overweight” rating and lifted their price objective for the stock from GBX 260 ($3.46) to GBX 275 ($3.66) in a report on Friday, July 15th. Fourteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of GBX 213.68 ($2.85).
Cairn Energy PLC (LON:CNE) opened at 180.7383 on Thursday. The company’s market capitalization is GBX 1.04 billion. Cairn Energy PLC has a 52 week low of GBX 124.70 and a 52 week high of GBX 232.00. The firm has a 50-day moving average price of GBX 189.44 and a 200-day moving average price of GBX 196.83.
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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