Cairn Energy (OTCMKTS:CRNCY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $7.00 price target on the energy company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.09% from the stock’s current price.

According to Zacks, “Cairn Energy PLC is engaged in the discovery, exploration and development of oil and gas properties in South Asia. The Company has discovered and developed many major fields in India and Bangladesh. Cairn Energy PLC is headquartered in Edinburgh, the United Kingdom. “

Separately, Jefferies Group cut shares of Cairn Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th.

Cairn Energy (OTCMKTS:CRNCY) opened at $6.19 on Wednesday. Cairn Energy has a 52 week low of $4.29 and a 52 week high of $6.19. The company has a current ratio of 1.35, a quick ratio of 1.34 and a debt-to-equity ratio of 0.08.

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About Cairn Energy

Cairn Energy PLC operates as an oil and gas exploration, development, and production company. It primarily holds interests in Senegal, the United Kingdom, Norway, Malta, Morocco, and the Republic of Ireland. The company also holds interests in two licenses covering an area of 1,100 km located in the Sureste basin, Gulf of Mexico.

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