Cairn Energy PLC (CNE) Earns “Overweight” Rating from Barclays PLC
Cairn Energy PLC (LON:CNE)‘s stock had its “overweight” rating reissued by investment analysts at Barclays PLC in a research note issued on Monday. They presently have a GBX 295 ($3.65) target price on the oil and gas development company’s stock. Barclays PLC’s target price suggests a potential upside of 36.95% from the stock’s current price.
A number of other research analysts have also issued reports on CNE. Royal Bank Of Canada upgraded Cairn Energy PLC to an “outperform” rating and set a GBX 260 ($3.22) target price for the company in a report on Thursday, July 28th. Deutsche Bank AG lifted their target price on Cairn Energy PLC from GBX 230 ($2.85) to GBX 240 ($2.97) and gave the company a “hold” rating in a report on Thursday, August 18th. Jefferies Group reiterated a “buy” rating and issued a GBX 285 ($3.53) target price on shares of Cairn Energy PLC in a report on Thursday, September 15th. Canaccord Genuity upgraded Cairn Energy PLC to a “buy” rating and set a GBX 230 ($2.85) target price for the company in a report on Friday, September 16th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a GBX 227 ($2.81) target price on shares of Cairn Energy PLC in a report on Friday, July 15th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Cairn Energy PLC presently has an average rating of “Hold” and an average price target of GBX 216.38 ($2.68).
Shares of Cairn Energy PLC (LON:CNE) opened at 215.30 on Monday. The stock has a 50 day moving average price of GBX 190.80 and a 200-day moving average price of GBX 197.42. The stock’s market cap is GBX 1.23 billion. Cairn Energy PLC has a 52 week low of GBX 124.70 and a 52 week high of GBX 232.00.
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Cairn Energy PLC Company Profile
Cairn Energy PLC (Cairn) is a United Kingdom-based independent oil and gas exploration and development company. The Company’s portfolio is focused on approximately three geographical regions, such as North West Europe, the Atlantic Margin and the Mediterranean. Cairn has exploration and appraisal assets in the Atlantic Margin, North West Europe and the Mediterranean, and core development assets in the North Sea.
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