Cairn Energy Stock Rating Reaffirmed by Canaccord Genuity (CNE)
Cairn Energy (LON:CNE)‘s stock had its “hold” rating reiterated by equities research analysts at Canaccord Genuity in a research note issued to investors on Friday, AnalystRatings.NET reports. They currently have a GBX 230 ($3.79) price objective on the stock. Canaccord Genuity’s price objective suggests a potential upside of 7.63% from the company’s current price.
Cairn Energy (LON:CNE) opened at 214.80 on Friday. Cairn Energy has a 1-year low of GBX 207.20 and a 1-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 £1.283 billion.
Several other analysts have also recently commented on the stock. 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. Separately, analysts at Numis Securities Ltd reiterated a “buy” rating on shares of Cairn Energy in a research note to investors on Thursday. Finally, analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Cairn Energy in a research note to investors on Thursday. They now have a GBX 285 ($4.70) price target on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. Cairn Energy presently has a consensus rating of “Buy” and a consensus target price of GBX 333.33 ($5.49).
Cairn Energy PLC (LON:CNE) is an independent oil and gas exploration and development company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.