Cairn Energy PLC (CNE) Price Target Increased to GBX 250 by Analysts at Canaccord Genuity
Cairn Energy PLC (LON:CNE) had its price objective raised by Canaccord Genuity from GBX 240 ($3.12) to GBX 250 ($3.25) in a research report released on Wednesday morning. The brokerage currently has a buy rating on the oil and gas development company’s stock.
A number of other brokerages have also recently issued reports on CNE. Royal Bank Of Canada cut their target price on shares of Cairn Energy PLC from GBX 270 ($3.51) to GBX 230 ($2.99) and set an outperform rating on the stock in a report on Tuesday. Barclays PLC cut their target price on shares of Cairn Energy PLC from GBX 270 ($3.51) to GBX 240 ($3.12) and set an overweight rating on the stock in a report on Thursday, June 22nd. GMP Securities reissued a buy rating on shares of Cairn Energy PLC in a report on Tuesday, July 11th. Deutsche Bank AG reissued a buy rating and issued a GBX 275 ($3.57) target price on shares of Cairn Energy PLC in a report on Wednesday, May 10th. Finally, J P Morgan Chase & Co cut their target price on shares of Cairn Energy PLC from GBX 235 ($3.05) to GBX 228 ($2.96) and set an overweight rating on the stock in a report on Wednesday, May 17th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of GBX 251.35 ($3.26).
Cairn Energy PLC (LON CNE) opened at 179.50 on Wednesday. The firm’s market capitalization is GBX 1.03 billion. Cairn Energy PLC has a one year low of GBX 164.20 and a one year high of GBX 250.60. The stock has a 50 day moving average price of GBX 174.23 and a 200-day moving average price of GBX 196.31.
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About Cairn Energy PLC
Cairn Energy PLC (Cairn) is a United Kingdom-based independent oil and gas exploration and development company. The Company’s portfolio is focused on approximately three geographical regions, such as North West Europe, the Atlantic Margin and the Mediterranean. Cairn has exploration and appraisal assets in the Atlantic Margin, North West Europe and the Mediterranean, and core development assets in the North Sea.
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