Cairn Energy PLC (LON:CNE)‘s stock had its “buy” rating reaffirmed by research analysts at Numis Securities Ltd in a report issued on Monday. They currently have a GBX 270 ($3.49) target price on the oil and gas development company’s stock. Numis Securities Ltd’s price objective points to a potential upside of 52.37% from the stock’s current price.
A number of other equities analysts also recently weighed in on the company. Deutsche Bank AG restated a “buy” rating and issued a GBX 240 ($3.10) target price on shares of Cairn Energy PLC in a research note on Friday, September 8th. Jefferies Group LLC cut their target price on Cairn Energy PLC from GBX 300 ($3.87) to GBX 225 ($2.91) and set a “buy” rating on the stock in a research note on Tuesday, August 29th. Macquarie restated an “outperform” rating and issued a GBX 242 ($3.13) target price on shares of Cairn Energy PLC in a research note on Tuesday, August 29th. Barclays PLC restated an “overweight” rating on shares of Cairn Energy PLC in a research note on Wednesday, August 23rd. Finally, Canaccord Genuity boosted their target price on Cairn Energy PLC from GBX 240 ($3.10) to GBX 250 ($3.23) and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of GBX 245.10 ($3.17).
Shares of Cairn Energy PLC (CNE) opened at 180.50 on Monday. The firm’s market capitalization is GBX 1.04 billion. The stock has a 50 day moving average price of GBX 175.10 and a 200-day moving average price of GBX 190.91. Cairn Energy PLC has a 52-week low of GBX 164.20 and a 52-week high of GBX 250.60.
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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