Cairn Energy PLC (CNE) Earns “Buy” Rating from GMP Securities
Cairn Energy PLC (LON:CNE)‘s stock had its “buy” rating reissued by analysts at GMP Securities in a note issued to investors on Tuesday.
A number of other brokerages also recently weighed in on CNE. Royal Bank Of Canada cut their price target on shares of Cairn Energy PLC from GBX 270 ($3.51) to GBX 230 ($2.99) and set an “outperform” rating for the company in a report on Tuesday. Barclays PLC reduced their price objective on shares of Cairn Energy PLC from GBX 270 ($3.51) to GBX 240 ($3.12) and set an “overweight” rating for the company in a research note on Thursday, June 22nd. Canaccord Genuity reaffirmed a “buy” rating and set a GBX 275 ($3.57) price objective on shares of Cairn Energy PLC in a research note on Friday, May 19th. Deutsche Bank AG reaffirmed a “buy” rating and set a GBX 275 ($3.57) price objective on shares of Cairn Energy PLC in a research note on Wednesday, May 10th. Finally, J P Morgan Chase & Co reduced their price objective on shares of Cairn Energy PLC from GBX 235 ($3.05) to GBX 228 ($2.96) and set an “overweight” rating for the company in a research note on Wednesday, May 17th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Cairn Energy PLC has an average rating of “Buy” and an average target price of GBX 254.85 ($3.31).
Shares of Cairn Energy PLC (LON:CNE) traded up 3.62% during midday trading on Tuesday, reaching GBX 180.20. The company’s stock had a trading volume of 2,584,245 shares. Cairn Energy PLC has a 12 month low of GBX 164.20 and a 12 month high of GBX 250.60. The company’s 50-day moving average price is GBX 173.99 and its 200-day moving average price is GBX 196.99. The company’s market cap is GBX 1.04 billion.
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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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