Cairn Energy Stock Rating Reaffirmed by RBC Capital (CNE)
Cairn Energy (LON:CNE)‘s stock had its “outperform” rating reaffirmed by analysts at RBC Capital in a research report issued to clients and investors on Tuesday, ARN reports. They currently have a GBX 410 ($6.73) price target on the stock. RBC Capital’s target price suggests a potential upside of 55.60% from the company’s current price.
Shares of Cairn Energy (LON:CNE) traded down 1.20% on Tuesday, hitting GBX 263.50. The stock had a trading volume of 2,037,679 shares. 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 267.7 and its 200-day moving average is GBX 271.0. The company’s market cap is £1.574 billion.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group reiterated a “buy” rating on shares of Cairn Energy in a research note to investors on Tuesday. They now have a GBX 385 ($6.32) price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Cairn Energy in a research note to investors on Thursday, January 16th. Finally, 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price 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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