Cairn Energy PLC (CNE) Receives GBX 229.65 Average Target Price from Brokerages

Cairn Energy PLC (LON:CNE) has been given an average recommendation of “Buy” by the fourteen research firms that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is GBX 229.65 ($3.00).

CNE has been the subject of several recent research reports. Peel Hunt reiterated a “buy” rating on shares of Cairn Energy in a research note on Monday, January 28th. Barclays reduced their price objective on shares of Cairn Energy from GBX 280 ($3.66) to GBX 245 ($3.20) and set an “overweight” rating for the company in a research report on Thursday, March 14th. Canaccord Genuity raised their price objective on shares of Cairn Energy from GBX 250 ($3.27) to GBX 260 ($3.40) and gave the company a “speculative buy” rating in a research report on Monday, February 25th. BNP Paribas reduced their price objective on shares of Cairn Energy from GBX 290 ($3.79) to GBX 190 ($2.48) and set a “neutral” rating for the company in a research report on Monday, December 10th. Finally, Morgan Stanley downgraded shares of Cairn Energy to an “equal weight” rating and reduced their price objective for the company from GBX 350 ($4.57) to GBX 230 ($3.01) in a research report on Tuesday, January 15th.

Shares of CNE opened at GBX 161.90 ($2.12) on Wednesday. Cairn Energy has a fifty-two week low of GBX 138 ($1.80) and a fifty-two week high of GBX 270.40 ($3.53). The stock has a market cap of $937.79 million and a PE ratio of -0.83. The company has a debt-to-equity ratio of 19.21, a current ratio of 1.40 and a quick ratio of 1.08.

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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