Cairn Energy Price Target Cut to GBX 307 (CNE)
Equities research analysts at Credit Suisse decreased their price objective on shares of Cairn Energy (LON:CNE) from GBX 356 ($5.87) to GBX 307 ($5.06) in a research note issued to investors on Friday, Analyst Ratings.Net reports. The firm currently has an “outperform” rating on the stock. Credit Suisse’s target price would suggest a potential upside of 43.66% from the stock’s previous close.
Shares of Cairn Energy (LON:CNE) opened at 214.20 on Friday. Cairn Energy has a one year low of GBX 207.20 and a one year high of GBX 309.60. The stock’s 50-day moving average is GBX 261. and its 200-day moving average is GBX 269.7. The company’s market cap is £1.279 billion.
A number of other firms have also recently commented on CNE. Analysts at Canaccord Genuity reiterated a “hold” rating on shares of Cairn Energy in a research note to investors on Friday. They now have a GBX 230 ($3.79) price target on the stock. Separately, analysts at JPMorgan Chase & Co. cut their price target on shares of Cairn Energy from GBX 360 ($5.93) to GBX 315 ($5.19) in a research note to investors on Friday. They now have an “overweight” rating on the stock. Finally, analysts at Numis Securities Ltd reiterated a “buy” rating on shares of Cairn Energy in a research note to investors on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of GBX 330.68 ($5.45).
Cairn Energy PLC (LON:CNE) is an independent oil and gas exploration and development company.
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