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BUZZ-Cairn Energy: Top of FTSE 250 after UBS raises to buy

Reuters - UK Focus

** Oil explorer Cairn Energy (LSE: CNE.L - news) 's shares up 7 pct, top of the FTSE 250, after UBS (LSE: 0QNR.L - news) raises to "buy" from "neutral"

** Best day for shares since late June

** Analysts say investors are being "paid to wait for the oil price recovery", co's North Sea projects will not ramp-up until H2 2017

** Analysts say drilling in Senegal, where wells are cheap, will resume this year,

** Of 24 analysts on stock, 7 rate at "buy", 14 rate at "hold", and 3 rate at "sell"; median PT of 220p implies a 21 pct upside to stock's Thursday close (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)