Cairn Energy PLC (CNE) Receives Average Recommendation of “Buy” from Brokerages

Cairn Energy PLC (LON:CNE) has received an average recommendation of “Buy” from the seventeen ratings firms that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is GBX 252.61 ($3.30).

Several brokerages have recently commented on CNE. Barclays raised their target price on Cairn Energy from GBX 295 ($3.85) to GBX 300 ($3.92) and gave the company an “overweight” rating in a research note on Wednesday, October 10th. Peel Hunt reduced their target price on Cairn Energy from GBX 280 ($3.66) to GBX 260 ($3.40) and set an “add” rating for the company in a research note on Thursday, September 13th. Morgan Stanley raised their target price on Cairn Energy from GBX 300 ($3.92) to GBX 350 ($4.57) and gave the company an “overweight” rating in a research note on Thursday, October 18th. Jefferies Financial Group downgraded Cairn Energy to an “underperform” rating and set a GBX 190 ($2.48) target price for the company. in a research note on Monday, October 22nd. Finally, Berenberg Bank began coverage on Cairn Energy in a research note on Thursday, November 1st. They issued a “buy” rating and a GBX 240 ($3.14) target price for the company.

CNE stock opened at GBX 184.50 ($2.41) on Friday. Cairn Energy has a 1-year low of GBX 164.20 ($2.15) and a 1-year high of GBX 237 ($3.10).

In related news, insider Simon Thomson purchased 31,812 shares of the business’s stock in a transaction on Tuesday, December 11th. The stock was acquired at an average price of GBX 156 ($2.04) per share, for a total transaction of £49,626.72 ($64,846.10).

Cairn Energy Company Profile

Cairn Energy PLC operates as an oil and gas exploration and production company. It holds a portfolio of exploration, development, and production assets in the United Kingdom; Norway; Mexico; and the Atlantic Margin, including Senegal and the Republic of Ireland. The company was incorporated in 2002 and is headquartered in Edinburgh, the United Kingdom.

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Analyst Recommendations for Cairn Energy (LON:CNE)

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