Cairn Energy (CNE) Given New GBX 260 Price Target at Canaccord Genuity
Cairn Energy (LON:CNE) had its price target increased by Canaccord Genuity from GBX 250 ($3.39) to GBX 260 ($3.53) in a research report sent to investors on Wednesday. Canaccord Genuity currently has a buy rating on the oil and gas development company’s stock.
Several other brokerages also recently issued reports on CNE. Credit Suisse Group reissued an outperform rating and set a GBX 260 ($3.53) target price on shares of Cairn Energy in a research note on Thursday, December 7th. Barclays lifted their target price on Cairn Energy from GBX 250 ($3.39) to GBX 265 ($3.59) and gave the company an overweight rating in a research note on Monday, January 15th. Numis Securities decreased their target price on Cairn Energy from GBX 270 ($3.66) to GBX 260 ($3.53) and set a buy rating on the stock in a research note on Monday, October 23rd. Jefferies Group downgraded Cairn Energy to a hold rating and lifted their target price for the company from GBX 225 ($3.05) to GBX 235 ($3.19) in a research note on Wednesday, December 20th. Finally, JPMorgan Chase & Co. lifted their target price on Cairn Energy from GBX 228 ($3.09) to GBX 241 ($3.27) and gave the company an overweight rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of GBX 249.30 ($3.38).
Shares of Cairn Energy (LON CNE) opened at GBX 217 ($2.94) on Wednesday. The stock has a market capitalization of $1,270.00 and a P/E ratio of 700.00. Cairn Energy has a 12 month low of GBX 164.20 ($2.23) and a 12 month high of GBX 245.40 ($3.33).
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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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