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Cairn Energy (LON:CNE)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Group in a research report issued on Tuesday, Analyst Ratings Network reports. They currently have a GBX 385 ($6.32) target price on the stock. Jefferies Group’s target price suggests a potential upside of 46.11% from the stock’s previous close.

Cairn Energy (LON:CNE) traded down 1.20% on Tuesday, hitting GBX 263.50. 2,037,679 shares of the company’s stock traded hands. The stock has a 50-day moving average of GBX 0. and a 200-day moving average of GBX 0.. The company’s market cap is £1.574 billion.

A number of other analysts have also recently weighed in on CNE. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Cairn Energy in a research note to investors on Thursday, January 16th. Separately, analysts at Canaccord Genuity cut their price target on shares of Cairn Energy from GBX 330 ($5.42) to GBX 285 ($4.68) in a research note to investors on Wednesday, January 15th. They now have a “hold” rating on the stock. Finally, analysts at Nomura cut their price target on shares of Cairn Energy from GBX 370 ($6.07) to GBX 350 ($5.75) in a research note to investors on Monday, January 13th. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of GBX 349.58 ($5.74).

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

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