Cairn Energy PLC (CNE) Receives “Outperform” Rating from Macquarie

Macquarie reissued their outperform rating on shares of Cairn Energy PLC (LON:CNE) in a report released on Tuesday. Macquarie currently has a GBX 242 ($3.13) price target on the oil and gas development company’s stock.

A number of other research firms have also recently weighed in on CNE. J P Morgan Chase & Co lowered their price target on Cairn Energy PLC from GBX 235 ($3.03) to GBX 228 ($2.94) and set an overweight rating on the stock in a report on Wednesday, May 17th. Jefferies Group LLC restated a buy rating and issued a GBX 300 ($3.87) price target on shares of Cairn Energy PLC in a report on Wednesday, May 17th. Canaccord Genuity restated a buy rating and issued a GBX 275 ($3.55) price target on shares of Cairn Energy PLC in a report on Friday, May 19th. Barclays PLC lowered their price target on Cairn Energy PLC from GBX 270 ($3.49) to GBX 240 ($3.10) and set an overweight rating on the stock in a report on Thursday, June 22nd. Finally, Deutsche Bank AG lowered their price target on Cairn Energy PLC from GBX 275 ($3.55) to GBX 232 ($3.00) and set a buy rating on the stock in a report on Thursday, July 6th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of GBX 245.10 ($3.17).

Shares of Cairn Energy PLC (LON:CNE) opened at 181.00 on Tuesday. Cairn Energy PLC has a one year low of GBX 164.20 and a one year high of GBX 250.60. The firm has a 50-day moving average price of GBX 175.10 and a 200 day moving average price of GBX 190.91. The firm’s market capitalization is GBX 1.04 billion.

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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.

Analyst Recommendations for Cairn Energy PLC (LON:CNE)

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