Cairn Energy Given Hold Rating at Societe Generale (CNE)
Cairn Energy (LON:CNE)‘s stock had its “hold” rating reaffirmed by equities research analysts at Societe Generale in a research note issued to investors on Thursday, AnalystRatingsNetwork.com reports. They currently have a GBX 300 ($4.81) target price on the stock. Societe Generale’s price target suggests a potential upside of 14.37% from the company’s current price.
Cairn Energy (LON:CNE) traded down 0.19% during mid-day trading on Thursday, hitting GBX 261.80. The stock had a trading volume of 945,149 shares. Cairn Energy has a 1-year low of GBX 250.70 and a 1-year high of GBX 309.60. The stock’s 50-day moving average is GBX 274.3 and its 200-day moving average is GBX 275.3. The company’s market cap is £1.564 billion.
A number of other firms have also recently commented on CNE. Analysts at Sanford C. Bernstein reiterated a “market perform” rating on shares of Cairn Energy in a research note to investors on Thursday, October 3rd. They now have a GBX 330 ($5.29) price target on the stock. Separately, analysts at Nomura cut their price target on shares of Cairn Energy from GBX 400 ($6.42) to GBX 370 ($5.94) in a research note to investors on Wednesday, October 2nd. They now have a “buy” rating on the stock. Finally, analysts at Davy Research reiterated an “outperform” rating on shares of Cairn Energy in a research note to investors on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. Cairn Energy has a consensus rating of “Buy” and a consensus price target of GBX 357.35 ($5.73).
Cairn Energy PLC (LON:CNE) is an independent oil and gas exploration and development company.
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