Cairn Energy PLC (CNE) Lifted to “Buy” at Canaccord Genuity
Canaccord Genuity upgraded shares of Cairn Energy PLC (LON:CNE) to a buy rating in a research report released on Friday morning. They currently have GBX 230 ($3.00) price target on the oil and gas development company’s stock.
A number of other equities research analysts have also weighed in on CNE. Royal Bank Of Canada upgraded shares of Cairn Energy PLC to an outperform rating and set a GBX 260 ($3.39) target price on the stock in a report on Thursday, July 28th. JPMorgan Chase & Co. restated an overweight rating and issued a GBX 220 ($2.87) target price on shares of Cairn Energy PLC in a report on Friday, May 20th. Deutsche Bank AG upped their target price on shares of Cairn Energy PLC from GBX 230 ($3.00) to GBX 240 ($3.13) and gave the stock a hold rating in a report on Thursday, August 18th. Barclays PLC restated an overweight rating and issued a GBX 280 ($3.65) target price on shares of Cairn Energy PLC in a report on Wednesday, August 17th. Finally, Jefferies Group restated a buy rating and issued a GBX 285 ($3.72) target price on shares of Cairn Energy PLC in a report on Thursday, September 15th. Fourteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of GBX 213.68 ($2.79).
Shares of Cairn Energy PLC (LON:CNE) opened at 182.40 on Friday. Cairn Energy PLC has a one year low of GBX 124.70 and a one year high of GBX 232.00. The stock’s 50 day moving average price is GBX 189.69 and its 200-day moving average price is GBX 197.48. The company’s market cap is GBX 1.04 billion.
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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