Cairn Energy PLC’s (CNE) Overweight Rating Reiterated at J P Morgan Chase & Co
J P Morgan Chase & Co reiterated their overweight rating on shares of Cairn Energy PLC (LON:CNE) in a report issued on Wednesday. They currently have a GBX 228 ($2.96) price target on the oil and gas development company’s stock.
A number of other brokerages have also weighed in on CNE. Royal Bank Of Canada dropped their target price on shares of Cairn Energy PLC from GBX 270 ($3.51) to GBX 230 ($2.99) and set an outperform rating for the company in a research report on Tuesday. Barclays PLC dropped their target price on shares of Cairn Energy PLC from GBX 270 ($3.51) to GBX 240 ($3.12) and set an overweight rating for the company in a research report on Thursday, June 22nd. Canaccord Genuity restated a buy rating and set a GBX 275 ($3.57) target price on shares of Cairn Energy PLC in a research report on Friday, May 19th. GMP Securities restated a buy rating on shares of Cairn Energy PLC in a research report on Tuesday, July 11th. Finally, Deutsche Bank AG restated a buy rating and set a GBX 275 ($3.57) target price on shares of Cairn Energy PLC in a research report on Wednesday, May 10th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of GBX 251.35 ($3.26).
Shares of Cairn Energy PLC (LON CNE) opened at 179.90 on Wednesday. Cairn Energy PLC has a 52-week low of GBX 164.20 and a 52-week high of GBX 250.60. The stock has a 50 day moving average of GBX 174.29 and a 200-day moving average of GBX 195.85. The firm’s market capitalization is GBX 1.04 billion.
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Cairn Energy PLC Company Profile
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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