The Cairn Energy PLC (CNE) Downgraded to “Add” at Numis Securities Ltd

The Cairn Energy PLC (CNE) Downgraded to “Add” at Numis Securities Ltd

Numis Securities Ltd lowered shares of Cairn Energy PLC (LON:CNE) to an add rating in a research report released on Wednesday morning. They currently have GBX 270 ($3.26) price objective on the oil and gas development company’s stock, up from their prior price objective of GBX 250 ($3.02).

CNE has been the topic of a number of other research reports. Jefferies Group raised their price target on Cairn Energy PLC from GBX 285 ($3.44) to GBX 300 ($3.62) and gave the stock a buy rating in a research note on Monday, January 9th. Deutsche Bank AG raised their price target on Cairn Energy PLC from GBX 240 ($2.90) to GBX 268 ($3.23) and gave the stock a hold rating in a research note on Thursday, January 5th. Barclays PLC reissued an overweight rating and issued a GBX 295 ($3.56) price target on shares of Cairn Energy PLC in a research note on Monday, January 9th. Morgan Stanley started coverage on Cairn Energy PLC in a research note on Monday, January 9th. They issued an equal weight rating and a GBX 260 ($3.14) price target on the stock. Finally, Goldman Sachs Group Inc. raised their price target on Cairn Energy PLC from GBX 203.90 ($2.46) to GBX 236.20 ($2.85) and gave the stock a neutral rating in a research note on Friday, December 16th. Fifteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of GBX 232.66 ($2.81).

Cairn Energy PLC (LON:CNE) opened at 240.10 on Wednesday. The stock’s 50 day moving average price is GBX 227.75 and its 200-day moving average price is GBX 203.29. The firm’s market capitalization is GBX 1.38 billion. Cairn Energy PLC has a 12 month low of GBX 124.70 and a 12 month high of GBX 250.60.

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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