JPMorgan Chase & Co. Boosts Cairn Energy (CNE) Price Target to GBX 306

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Cairn Energy (LON:CNE) had its price objective raised by JPMorgan Chase & Co. from GBX 241 ($3.14) to GBX 306 ($3.99) in a research note released on Wednesday morning. JPMorgan Chase & Co. currently has an overweight rating on the oil and gas development company’s stock.

CNE has been the topic of a number of other research reports. UBS Group reaffirmed a buy rating on shares of Cairn Energy in a research note on Friday, September 7th. Peel Hunt reaffirmed an add rating on shares of Cairn Energy in a research note on Friday, June 15th. Goldman Sachs Group raised shares of Cairn Energy to a buy rating and set a GBX 288.20 ($3.75) target price on the stock in a research note on Thursday, May 17th. Jefferies Financial Group lifted their target price on shares of Cairn Energy from GBX 235 ($3.06) to GBX 265 ($3.45) and gave the company a hold rating in a research note on Tuesday, June 12th. Finally, BNP Paribas lowered shares of Cairn Energy to a neutral rating and lifted their target price for the company from GBX 230 ($3.00) to GBX 290 ($3.78) in a research note on Wednesday, May 23rd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Cairn Energy has an average rating of Buy and an average price target of GBX 275.66 ($3.59).

Shares of CNE opened at GBX 211.40 ($2.75) on Wednesday. Cairn Energy has a 1-year low of GBX 164.20 ($2.14) and a 1-year high of GBX 237 ($3.09).

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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