Jefferies Group reiterated their buy rating on shares of Cairn Energy PLC (LON:CNE) in a report released on Thursday morning. Jefferies Group currently has a GBX 285 ($3.72) price objective on the oil and gas development company’s stock.
A number of other equities analysts also recently commented on CNE. Barclays PLC raised their price objective on shares of Cairn Energy PLC from GBX 230 ($3.00) to GBX 240 ($3.13) and gave the stock an equal weight rating in a report on Thursday, June 9th. Goldman Sachs Group Inc. lifted their price target on shares of Cairn Energy PLC from GBX 191.50 ($2.50) to GBX 203.90 ($2.66) and gave the company a neutral rating in a report on Tuesday, June 28th. Liberum Capital lifted their price target on shares of Cairn Energy PLC from GBX 175 ($2.28) to GBX 209 ($2.73) and gave the company a hold rating in a report on Wednesday, June 29th. Deutsche Bank AG reissued a hold rating and set a GBX 230 ($3.00) price target on shares of Cairn Energy PLC in a report on Friday, July 15th. Finally, JPMorgan Chase & Co. reissued an overweight rating and set a GBX 227 ($2.96) price target on shares of Cairn Energy PLC in a report on Friday, July 15th. Fourteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Cairn Energy PLC has a consensus rating of Hold and a consensus target price of GBX 213.68 ($2.79).
Cairn Energy PLC (LON:CNE) traded up 0.30% on Thursday, hitting GBX 198.30. 1,679,561 shares of the stock traded hands. The stock’s market cap is GBX 1.14 billion. Cairn Energy PLC has a 12-month low of GBX 124.70 and a 12-month high of GBX 232.00. The stock has a 50-day moving average price of GBX 189.44 and a 200 day moving average price of GBX 197.26.
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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