Cairn Energy (LON:CNE) had its price objective upped by equities research analysts at BNP Paribas from GBX 201 ($2.82) to GBX 230 ($3.23) in a report released on Thursday. The brokerage currently has an “outperform” rating on the oil and gas development company’s stock. BNP Paribas’ price target would suggest a potential upside of 7.18% from the stock’s current price.
Several other research firms have also recently weighed in on CNE. Barclays boosted their price target on Cairn Energy from GBX 250 ($3.51) to GBX 265 ($3.72) and gave the stock an “overweight” rating in a research note on Monday, January 15th. Credit Suisse Group restated an “outperform” rating and issued a GBX 260 ($3.65) price target on shares of Cairn Energy in a research note on Monday, January 8th. Peel Hunt boosted their price target on Cairn Energy from GBX 240 ($3.37) to GBX 260 ($3.65) and gave the stock a “buy” rating in a research note on Monday, January 8th. Royal Bank of Canada boosted their price target on Cairn Energy from GBX 245 ($3.44) to GBX 300 ($4.21) and gave the stock an “outperform” rating in a research note on Monday, January 29th. Finally, Whitman Howard restated a “buy” rating on shares of Cairn Energy in a research note on Wednesday, January 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Cairn Energy presently has a consensus rating of “Buy” and an average price target of GBX 259.08 ($3.64).
CNE stock opened at GBX 214.60 ($3.01) on Thursday. Cairn Energy has a 1-year low of GBX 164.20 ($2.30) and a 1-year high of GBX 237 ($3.33).
Cairn Energy Company Profile
Cairn Energy PLC operates as an oil and gas exploration, development, and production company. It primarily holds interests in Senegal, the United Kingdom, Norway, Malta, Morocco, and the Republic of Ireland. The company also holds interests in two licenses covering an area of 1,100 km located in the Sureste basin, Gulf of Mexico.
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