Cairn Energy Rating Reiterated by Deutsche Bank (CNE)
Cairn Energy (LON:CNE)‘s stock had its “buy” rating restated by stock analysts at Deutsche Bank in a report issued on Monday, AR Network reports. They currently have a GBX 352 ($5.80) target price on the stock. Deutsche Bank’s price objective indicates a potential upside of 48.46% from the stock’s previous close.
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 Monday. They now have a GBX 352 ($5.80) price target on the stock. Separately, analysts at Morgan Stanley cut their price target on shares of Cairn Energy from GBX 375 ($6.18) to GBX 350 ($5.77) in a research note to investors on Friday. They now have an “overweight” rating on the stock. Finally, analysts at BNP Paribas cut their price target on shares of Cairn Energy from GBX 335 ($5.52) to GBX 318 ($5.24) in a research note to investors on Thursday. They now have an “outperform” rating on the stock. One 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 has a consensus rating of “Buy” and an average price target of GBX 344.03 ($5.67).
Cairn Energy (LON:CNE) traded down 4.20% on Monday, hitting GBX 237.10. The stock had a trading volume of 3,501,166 shares. Cairn Energy has a 1-year low of GBX 230.00 and a 1-year high of GBX 309.60. The stock has a 50-day moving average of GBX 265.5 and a 200-day moving average of GBX 270.7. The company’s market cap is £1.416 billion.
Cairn Energy PLC (LON:CNE) is an independent oil and gas exploration and development company.
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