Cairn Energy PLC (CNE) Received Average Rating of “Purchase” from Brokerages

Cairn Energy PLC (CNE) Received Average Rating of “Purchase” from Brokerages

Cairn Energy PLC (LON:CNE) has earned an average rating of “Buy” from the fifteen ratings firms that are covering the stock. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is GBX 253.94 ($3.19).

Several equities analysts have recently issued reports on the company. Deutsche Bank AG lifted their price target on Cairn Energy PLC from GBX 268 ($3.37) to GBX 270 ($3.39) and gave the company a “hold” rating in a research report on Friday, January 20th. Jefferies Group LLC lifted their price target on Cairn Energy PLC from GBX 285 ($3.58) to GBX 300 ($3.77) and gave the company a “buy” rating in a research report on Monday, January 9th. GMP Securities reiterated a “hold” rating on shares of Cairn Energy PLC in a research report on Wednesday, February 15th. Numis Securities Ltd cut Cairn Energy PLC to an “add” rating and lifted their price target for the company from GBX 250 ($3.14) to GBX 270 ($3.39) in a research report on Wednesday, January 18th. Finally, Barclays PLC reiterated an “overweight” rating and set a GBX 295 ($3.71) price target on shares of Cairn Energy PLC in a research report on Monday, January 9th.

Cairn Energy PLC (LON:CNE) opened at 204.50 on Tuesday. Cairn Energy PLC has a 12-month low of GBX 171.10 and a 12-month high of GBX 250.60. The firm’s market cap is GBX 1.17 billion. The stock has a 50 day moving average price of GBX 216.40 and a 200-day moving average price of GBX 213.03.

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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