Cairn Energy (CNE) Price Target Raised to GBX 260 at Peel Hunt
Cairn Energy (LON:CNE) had its target price hoisted by Peel Hunt from GBX 240 ($3.25) to GBX 260 ($3.53) in a research note issued to investors on Monday morning. They currently have a buy rating on the oil and gas development company’s stock.
Several other research firms have also weighed in on CNE. Numis Securities reaffirmed a buy rating and set a GBX 270 ($3.66) target price on shares of Cairn Energy in a report on Monday, September 11th. Credit Suisse Group reissued an outperform rating and issued a GBX 260 ($3.53) price target on shares of Cairn Energy in a report on Thursday, December 7th. Jefferies Group lowered shares of Cairn Energy to a hold rating and boosted their price target for the stock from GBX 225 ($3.05) to GBX 235 ($3.19) in a report on Wednesday, December 20th. Macquarie reissued an outperform rating and issued a GBX 242 ($3.28) price target on shares of Cairn Energy in a report on Tuesday, September 12th. Finally, Barclays reissued an overweight rating and issued a GBX 250 ($3.39) price target on shares of Cairn Energy in a report on Wednesday, November 22nd. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of GBX 245.91 ($3.33).
Cairn Energy (LON CNE) opened at GBX 227.60 ($3.09) on Monday. The firm has a market cap of $1,320.00 and a P/E ratio of 711.25. Cairn Energy has a 1-year low of GBX 164.20 ($2.23) and a 1-year high of GBX 249 ($3.38).
Cairn Energy Company Profile
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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