Cairn Energy Given New GBX 420 Price Target at HSBC (CNE)
Equities researchers at HSBC hoisted their price target on shares of Cairn Energy (LON:CNE) from GBX 330 ($5.27) to GBX 420 ($6.70) in a research report issued on Tuesday, AnalystRatings.NET reports. The firm currently has an “overweight” rating on the stock. HSBC’s price target would indicate a potential upside of 56.72% from the stock’s previous close.
CNE has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity reiterated a “hold” rating on shares of Cairn Energy in a research note to investors on Monday. They now have a GBX 330 ($5.27) price target on the stock. Separately, 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. Finally, analysts at Societe Generale reiterated a “hold” rating on shares of Cairn Energy in a research note to investors on Thursday, October 10th. They now have a GBX 300 ($4.79) price target on the stock. One 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. The stock presently has a consensus rating of “Buy” and an average price target of GBX 360.16 ($5.75).
Cairn Energy (LON:CNE) opened at 273.60 on Tuesday. 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 £1.634 billion.
Cairn Energy PLC (LON:CNE) is an independent oil and gas exploration and development company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.