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Analysts at Canaccord Genuity lowered their target price on shares of Cairn Energy PLC (LON:CNE) from GBX 210 ($3.51) to GBX 190 ($3.18) in a research report issued to clients and investors on Wednesday. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s price target suggests a potential upside of 1.44% from the stock’s previous close.

Shares of Cairn Energy PLC (LON:CNE) opened at 186.636 on Wednesday. Cairn Energy PLC has a one year low of GBX 149.70 and a one year high of GBX 290.40. The stock’s 50-day moving average is GBX 186.3 and its 200-day moving average is GBX 187.1. The company’s market cap is £1.079 billion.

Several other analysts have also recently commented on the stock. Analysts at Credit Suisse cut their price target on shares of Cairn Energy PLC from GBX 304 ($5.08) to GBX 288 ($4.81) in a research note on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Deutsche Bank cut their price target on shares of Cairn Energy PLC from GBX 280 ($4.68) to GBX 260 ($4.35) in a research note on Wednesday. They now have a “hold” rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Cairn Energy PLC in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the stock. Cairn Energy PLC currently has a consensus rating of “Hold” and a consensus price target of GBX 269 ($4.50).

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

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