Deutsche Bank Reiterates “Hold” Rating for Cairn Energy PLC (CNE)
Cairn Energy PLC (LON:CNE)‘s stock had its “hold” rating reissued by research analysts at Deutsche Bank in a report released on Thursday. They currently have a GBX 260 ($4.30) price objective on the stock. Deutsche Bank’s target price would suggest a potential upside of 43.33% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Oriel Securities Ltd reiterated a “buy” rating on shares of Cairn Energy PLC in a research note on Wednesday. Separately, analysts at Sanford C. Bernstein reiterated a “market perform” rating on shares of Cairn Energy PLC in a research note on Friday, August 22nd. They now have a GBX 330 ($5.46) price target on the stock. Finally, analysts at Investec raised their price target on shares of Cairn Energy PLC from GBX 220 ($3.64) to GBX 245 ($4.05) in a research note on Thursday, August 21st. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of GBX 264.15 ($4.37).
Shares of Cairn Energy PLC (LON:CNE) traded down 4.78% on Thursday, hitting GBX 181.40. 1,278,750 shares of the company’s stock traded hands. Cairn Energy PLC has a 1-year low of GBX 149.70 and a 1-year high of GBX 290.40. The stock’s 50-day moving average is GBX 183.2 and its 200-day moving average is GBX 186.2. The company’s market cap is £1.045 billion.
Cairn Energy PLC (LON:CNE) is an independent oil and gas exploration and development company.
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