Numis Securities Ltd Cuts Cairn Energy PLC (CNE) Price Target to GBX 260
Cairn Energy PLC (LON:CNE) had its target price decreased by investment analysts at Numis Securities Ltd from GBX 270 ($3.59) to GBX 260 ($3.45) in a research report issued to clients and investors on Monday. The firm presently has a “buy” rating on the oil and gas development company’s stock. Numis Securities Ltd’s price target points to a potential upside of 32.92% from the company’s previous close.
Other equities research analysts also recently issued research reports about the company. Deutsche Bank AG increased their price objective on Cairn Energy PLC from GBX 235 ($3.12) to GBX 240 ($3.19) and gave the company a “buy” rating in a report on Wednesday, August 23rd. Barclays PLC reissued an “overweight” rating on shares of Cairn Energy PLC in a report on Wednesday, August 23rd. GMP Securities reissued a “buy” rating on shares of Cairn Energy PLC in a report on Tuesday, July 11th. J P Morgan Chase & Co reissued an “overweight” rating and issued a GBX 228 ($3.03) price objective on shares of Cairn Energy PLC in a report on Wednesday, July 12th. Finally, Royal Bank Of Canada cut their price objective on Cairn Energy PLC from GBX 270 ($3.59) to GBX 230 ($3.06) and set an “outperform” rating for the company in a report on Tuesday, August 22nd. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of GBX 243.17 ($3.23).
Shares of Cairn Energy PLC (LON:CNE) opened at 197.50 on Monday. The firm’s market capitalization is GBX 1.14 billion. The firm has a 50-day moving average of GBX 185.75 and a 200-day moving average of GBX 187.04. Cairn Energy PLC has a 1-year low of GBX 164.20 and a 1-year high of GBX 250.60.
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In other Cairn Energy PLC news, insider Peter Kallos bought 10,982 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were purchased at an average cost of GBX 181 ($2.40) per share, for a total transaction of £19,877.42 ($26,411.67).
About Cairn Energy PLC
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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