Morgan Stanley upgraded shares of Cairn Energy (LON:CNE) to an overweight rating in a research note published on Monday morning. The firm currently has GBX 300 ($4.14) price objective on the oil and gas development company’s stock, up from their prior price objective of GBX 270 ($3.73).
Other research analysts have also issued reports about the stock. Canaccord Genuity increased their price objective on shares of Cairn Energy from GBX 250 ($3.45) to GBX 260 ($3.59) and gave the stock a buy rating in a report on Wednesday, January 24th. Whitman Howard reiterated a buy rating on shares of Cairn Energy in a report on Wednesday, January 24th. Numis Securities increased their price objective on shares of Cairn Energy from GBX 255 ($3.52) to GBX 270 ($3.73) and gave the stock a buy rating in a report on Wednesday, January 24th. Peel Hunt reiterated a buy rating and set a GBX 260 ($3.59) price objective on shares of Cairn Energy in a report on Tuesday, January 23rd. Finally, Jefferies Group lowered shares of Cairn Energy to a hold rating and increased their price objective for the stock from GBX 225 ($3.11) to GBX 235 ($3.25) in a report on Wednesday, December 20th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Cairn Energy currently has a consensus rating of Buy and a consensus target price of GBX 261.64 ($3.61).
Cairn Energy (CNE) opened at GBX 212.40 ($2.93) on Monday. The firm has a market cap of $1,240.00 and a PE ratio of 685.16. Cairn Energy has a 1-year low of GBX 164.20 ($2.27) and a 1-year high of GBX 237 ($3.27).
Cairn Energy Company Profile
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.
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