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Research analysts at Nomura reduced their target price on shares of Cairn Energy (LON:CNE) from GBX 370 ($6.10) to GBX 350 ($5.77) in a report released on Monday, Analyst RN reports. The firm currently has a “buy” rating on the stock. Nomura’s target price points to a potential upside of 30.99% from the company’s current price.

Shares of Cairn Energy (LON:CNE) opened at 267.20 on Monday. Cairn Energy has a 1-year low of GBX 250.70 and a 1-year high of GBX 309.60. The stock has a 50-day moving average of GBX 268.2 and a 200-day moving average of GBX 270.7. The company’s market cap is £1.596 billion.

A number of other analysts have also recently weighed in on CNE. Analysts at Liberum Capital reiterated a “buy” rating on shares of Cairn Energy in a research note to investors on Friday, January 10th. They now have a GBX 355 ($5.85) price target on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Cairn Energy in a research note to investors on Wednesday, January 8th. They now have a GBX 345 ($5.69) price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Cairn Energy in a research note to investors on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. Cairn Energy currently has a consensus rating of “Buy” and an average price target of GBX 351.58 ($5.79).

Cairn Energy PLC (LON:CNE) is an independent oil and gas exploration and development company.

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