Cairn Energy PLC (CNE) Price Target Cut to GBX 225
Cairn Energy PLC (LON:CNE) had its target price lowered by equities researchers at Jefferies Group LLC from GBX 300 ($3.88) to GBX 225 ($2.91) in a report released on Tuesday. The brokerage currently has a “buy” rating on the oil and gas development company’s stock. Jefferies Group LLC’s price target points to a potential upside of 25.07% from the company’s current price.
Several other analysts have also recently commented on the company. J P Morgan Chase & Co reiterated an “overweight” rating and issued a GBX 228 ($2.95) target price on shares of Cairn Energy PLC in a report on Wednesday, July 12th. GMP Securities reiterated a “buy” rating on shares of Cairn Energy PLC in a report on Tuesday, July 11th. Macquarie upped their target price on Cairn Energy PLC from GBX 246 ($3.18) to GBX 270 ($3.49) and gave the company an “outperform” rating in a report on Monday, May 22nd. Barclays PLC reiterated an “overweight” rating and issued a GBX 240 ($3.10) target price on shares of Cairn Energy PLC in a report on Tuesday, July 18th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a GBX 275 ($3.56) target price on shares of Cairn Energy PLC in a report on Wednesday, May 10th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Cairn Energy PLC currently has an average rating of “Buy” and an average target price of GBX 245.10 ($3.17).
Shares of Cairn Energy PLC (CNE) opened at 175.70 on Tuesday. The firm’s 50 day moving average is GBX 174.29 and its 200-day moving average is GBX 195.85. Cairn Energy PLC has a 52-week low of GBX 164.20 and a 52-week high of GBX 250.60. The company’s market capitalization is GBX 1.01 billion.
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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