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Equities research analysts at JPMorgan Chase & Co. cut their price objective on shares of Cairn Energy (LON:CNE) from GBX 360 ($5.93) to GBX 315 ($5.19) in a research note issued to investors on Friday, Stock Ratings Network.com reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s target price indicates a potential upside of 46.10% from the company’s current price.

Shares of Cairn Energy (LON:CNE) traded down 0.60% on Friday, hitting GBX 215.60. The stock had a trading volume of 3,920,519 shares. 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 260.3 and its 200-day moving average is GBX 269.3. The company’s market cap is £1.288 billion.

A number of other analysts have also recently weighed in on CNE. Analysts at Numis Securities Ltd reiterated a “buy” rating on shares of Cairn Energy in a research note to investors on Thursday. Separately, 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. Finally, analysts at UBS AG cut their price target on shares of Cairn Energy from GBX 270 ($4.45) to GBX 250 ($4.12) in a research note to investors on Monday, January 27th. They now have a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. The stock currently has a consensus 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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