Cairn Energy Stock Rating Reaffirmed by Canaccord Genuity (CNE)
Cairn Energy (LON:CNE)‘s stock had its “hold” rating restated by analysts at Canaccord Genuity in a research report issued to clients and investors on Monday, AnalystRatingsNetwork reports. They currently have a GBX 330 ($5.27) target price on the stock. Canaccord Genuity’s price target would suggest a potential upside of 24.29% from the stock’s previous close.
Shares of Cairn Energy (LON:CNE) opened at 266.10 on Monday. Cairn Energy has a 52-week low of GBX 250.70 and a 52-week 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 £1.589 billion.
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Cairn Energy in a research note to investors on Monday. They now have a GBX 353 ($5.64) price target on the stock. Separately, analysts at Societe Generale reiterated a “hold” rating on shares of Cairn Energy in a research note to investors on Thursday. They now have a GBX 300 ($4.79) price target on the stock. Finally, 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 ($5.27) price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of GBX 355.50 ($5.68).
Cairn Energy PLC (LON:CNE) is an independent oil and gas exploration and development company.
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