Cairn Energy PLC Price Target Increased to GBX 245 by Analysts at Investec (CNE)
Equities research analysts at Investec boosted their price target on shares of Cairn Energy PLC (LON:CNE) from GBX 220 ($3.68) to GBX 245 ($4.10) in a research note issued to investors on Thursday. The firm currently has a “buy” rating on the stock. Investec’s price target would suggest a potential upside of 33.88% from the stock’s previous close.
Shares of Cairn Energy PLC (LON:CNE) traded up 1.15% during mid-day trading on Thursday, hitting GBX 185.10. The stock had a trading volume of 330,515 shares. Cairn Energy PLC has a 1-year low of GBX 149.70 and a 1-year high of GBX 290.40. The stock has a 50-day moving average of GBX 185.8 and a 200-day moving average of GBX 186.9. The company’s market cap is £1.070 billion.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital reiterated a “sector perform” rating on shares of Cairn Energy PLC in a research note on Wednesday. They now have a GBX 230 ($3.84) price target on the stock. Separately, analysts at Canaccord Genuity cut their price target on shares of Cairn Energy PLC from GBX 210 ($3.51) to GBX 190 ($3.18) in a research note on Wednesday. They now have a “hold” rating on the stock. Finally, 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. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of GBX 266.38 ($4.45).
Cairn Energy PLC (LON:CNE) is an independent oil and gas exploration and development company.
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