Cairn Energy (LON:CNE) Stock Rating Reaffirmed by Berenberg Bank

Cairn Energy (LON:CNE)‘s stock had its “buy” rating restated by research analysts at Berenberg Bank in a research report issued to clients and investors on Tuesday, January 22nd. They currently have a GBX 190 ($2.48) target price on the oil and gas development company’s stock. Berenberg Bank’s price objective would suggest a potential downside of 10.83% from the stock’s previous close.

CNE has been the topic of several other reports. Barclays lowered their target price on shares of Cairn Energy from GBX 300 ($3.92) to GBX 280 ($3.66) and set an “overweight” rating on the stock in a report on Thursday, January 10th. Peel Hunt reissued a “buy” rating on shares of Cairn Energy in a research note on Tuesday, January 22nd. UBS Group reissued a “buy” rating and issued a GBX 280 ($3.66) price objective (down from GBX 300 ($3.92)) on shares of Cairn Energy in a research note on Tuesday, December 11th. Jefferies Financial Group cut shares of Cairn Energy to an “underperform” rating and set a GBX 190 ($2.48) price objective on the stock. in a research note on Monday, October 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Cairn Energy from GBX 306 ($4.00) to GBX 271 ($3.54) and set an “overweight” rating on the stock in a research note on Tuesday, November 20th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of GBX 238.40 ($3.12).

Shares of CNE stock opened at GBX 213.07 ($2.78) on Tuesday. Cairn Energy has a 12-month low of GBX 164.20 ($2.15) and a 12-month high of GBX 237 ($3.10).

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

About Cairn Energy

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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