Zacks Investment Research Lowers Cairn Energy PLC (CRNCY) to Hold
Cairn Energy PLC (OTCMKTS:CRNCY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
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. “
A number of other brokerages have also recently commented on CRNCY. Credit Suisse Group AG raised shares of Cairn Energy PLC from a “neutral” rating to an “outperform” rating in a report on Friday, September 9th. Macquarie raised shares of Cairn Energy PLC from a “neutral” rating to an “outperform” rating in a report on Tuesday, September 13th. Finally, RBC Capital Markets raised shares of Cairn Energy PLC from a “sector perform” rating to an “outperform” rating in a report on Thursday, July 28th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $6.25.
Shares of Cairn Energy PLC (OTCMKTS:CRNCY) remained flat at $4.48 during mid-day trading on Wednesday. The firm has a 50 day moving average of $0.00 and a 200 day moving average of $0.00. Cairn Energy PLC has a 52 week low of $3.56 and a 52 week high of $6.16.
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