Cairn Energy (OTCMKTS:CRNCY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, January 4th. The brokerage presently has a $6.50 price target on the energy company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 5.01% from the stock’s current price.

According to Zacks, “Cairn Energy PLC is engaged in the discovery, exploration and development of oil and gas properties in South Asia. The Company has discovered and developed many major fields in India and Bangladesh. Cairn Energy PLC is headquartered in Edinburgh, the United Kingdom. “

Separately, Jefferies Group cut shares of Cairn Energy from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th.

Cairn Energy (OTCMKTS CRNCY) traded up $0.04 during trading hours on Thursday, hitting $6.19. 257 shares of the stock were exchanged, compared to its average volume of 10,297. Cairn Energy has a twelve month low of $4.29 and a twelve month high of $6.49. The company has a current ratio of 1.35, a quick ratio of 1.34 and a debt-to-equity ratio of 0.08.

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About Cairn Energy

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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