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Cairn Energy (LON:CNE)‘s stock had its “buy” rating reaffirmed by Numis Securities Ltd in a research note issued on Wednesday, Stock Ratings Network.com reports. They currently have a GBX 406 ($6.66) target price on the stock. Numis Securities Ltd’s target price points to a potential upside of 54.08% from the stock’s previous close.

Cairn Energy (LON:CNE) traded up 1.10% during mid-day trading on Wednesday, hitting GBX 266.39. The stock had a trading volume of 2,178,977 shares. Cairn Energy has a 52 week low of GBX 250.70 and a 52 week high of GBX 309.60. The stock has a 50-day moving average of GBX 267.7 and a 200-day moving average of GBX 271.0. The company’s market cap is £1.591 billion.

A number of other analysts have also recently weighed in on CNE. Analysts at RBC Capital reiterated an “outperform” rating on shares of Cairn Energy in a research note to investors on Tuesday. They now have a GBX 410 ($6.73) price target on the stock. Separately, 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. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Cairn Energy in a research note to investors on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of GBX 348.68 ($5.72).

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

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