Equities researchers at Credit Suisse initiated coverage on shares of Cairn Energy (LON:CNE) in a research report issued on Monday, American Banking News reports. The firm set an “outperform” rating and a GBX 360 ($5.89) price target on the stock. Credit Suisse’s price objective would indicate a potential upside of 33.83% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at FinnCap reiterated a “buy” rating on shares of Cairn Energy in a research note to investors on Wednesday, December 4th. They now have a GBX 325 ($5.31) price target on the stock, up previously from GBX 320 ($5.23). Separately, analysts at Liberum Capital cut their price target on shares of Cairn Energy from GBX 384 ($6.28) to GBX 355 ($5.80) in a research note to investors on Wednesday, December 4th. They now have a “buy” rating on the stock. Finally, analysts at Investec reiterated a “hold” rating on shares of Cairn Energy in a research note to investors on Thursday, November 28th. They now have a GBX 310 ($5.07) price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of GBX 357.71 ($5.85).
Cairn Energy (LON:CNE) opened at 268.90 on Monday. Cairn Energy has a 52 week low of GBX 250.70 and a 52 week high of GBX 309.60. The stock’s 50-day moving average is GBX 275.1 and its 200-day moving average is GBX 270.6. The company’s market cap is £1.606 billion.
Cairn Energy PLC (LON:CNE) is an independent oil and gas exploration and development company.
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