Cairn Energy PLC (CNE) Earns Outperform Rating from Credit Suisse Group
Credit Suisse Group reiterated their outperform rating on shares of Cairn Energy PLC (LON:CNE) in a research note released on Friday. The brokerage currently has a GBX 260 ($3.43) price target on the oil and gas development company’s stock.
A number of other analysts have also recently issued reports on the company. Numis Securities Ltd lowered their target price on Cairn Energy PLC from GBX 270 ($3.56) to GBX 260 ($3.43) and set a buy rating for the company in a research note on Monday, October 23rd. Deutsche Bank AG lowered their target price on Cairn Energy PLC from GBX 240 ($3.17) to GBX 230 ($3.04) and set a buy rating for the company in a research note on Friday, October 13th. Jefferies Group LLC reissued a buy rating and set a GBX 225 ($2.97) target price on shares of Cairn Energy PLC in a research note on Wednesday, October 4th. Peel Hunt reissued a buy rating and set a GBX 240 ($3.17) target price on shares of Cairn Energy PLC in a research note on Monday, October 2nd. Finally, Macquarie reissued an outperform rating and set a GBX 242 ($3.19) target price on shares of Cairn Energy PLC in a research note on Tuesday, September 12th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of GBX 243.17 ($3.21).
Shares of Cairn Energy PLC (LON CNE) opened at GBX 222.70 ($2.94) on Friday. Cairn Energy PLC has a 52 week low of GBX 164.20 ($2.17) and a 52 week high of GBX 250.60 ($3.31).
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In related news, insider Peter Kallos acquired 10,982 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was bought at an average price of GBX 181 ($2.39) per share, with a total value of £19,877.42 ($26,230.43).
Cairn Energy PLC 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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