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BUZZ-Cairn Energy: Credit Suisse hikes to outperform

Reuters - UK Focus

** Oil explorer Cairn Energy (LSE: CNE.L - news) 's shares up 3.7 pct, second-largest FTSE midcap gainers, after Credit Suisse (LSE: 0QP5.L - news) hikes rating on co to outperform from neutral

** Credit Suisse says co is on the verge of returning to production in 2017, calls Senegal oil discovery "exciting"

** A fifth of co's 30-day avg vols gone through in the first hour of trade

** Broker also cuts Tullow Oil (LSE: TLW.L - news) (down 1.7 pct) to neutral, saying there is limited upside in the stock given share price implies oil prices of about $68/barrel

** Brent down 1.1 pct on the day (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)