Cairn Energy’s (LON:CNE) “Overweight” Rating Reiterated at Barclays

Barclays reaffirmed their overweight rating on shares of Cairn Energy (LON:CNE) in a research report released on Tuesday, February 20th.

A number of other research firms also recently commented on CNE. Credit Suisse Group restated an outperform rating and set a GBX 260 ($3.59) price objective on shares of Cairn Energy in a report on Thursday, December 7th. Numis Securities restated a buy rating and set a GBX 270 ($3.73) price objective on shares of Cairn Energy in a report on Thursday, February 1st. Canaccord Genuity upped their price objective on Cairn Energy from GBX 250 ($3.45) to GBX 260 ($3.59) and gave the stock a buy rating in a report on Wednesday, January 24th. Jefferies Group cut shares of Cairn Energy to a hold rating and upped their price target for the stock from GBX 225 ($3.11) to GBX 235 ($3.25) in a research report on Wednesday, December 20th. Finally, JPMorgan Chase & Co. upped their price target on shares of Cairn Energy from GBX 228 ($3.15) to GBX 241 ($3.33) and gave the stock an overweight rating in a research report on Wednesday, January 24th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of GBX 261.64 ($3.61).

Shares of Cairn Energy (LON CNE) traded up GBX 7.80 ($0.11) during trading on Tuesday, hitting GBX 201.40 ($2.78). The company had a trading volume of 2,702,582 shares, compared to its average volume of 1,470,000. The firm has a market cap of $1,170.00 and a P/E ratio of 629.38. Cairn Energy has a 1 year low of GBX 164.20 ($2.27) and a 1 year high of GBX 237 ($3.27).

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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.

Analyst Recommendations for Cairn Energy (LON:CNE)

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