Cairn Energy PLC (LON:CNE) had its price objective raised by equities research analysts at Deutsche Bank AG from GBX 268 ($3.23) to GBX 270 ($3.26) in a report issued on Friday. The firm presently has a “hold” rating on the oil and gas development company’s stock. Deutsche Bank AG’s target price suggests a potential upside of 12.83% from the stock’s previous close.
A number of other brokerages also recently issued reports on CNE. Barclays PLC reiterated an “overweight” rating and set a GBX 295 ($3.56) price target on shares of Cairn Energy PLC in a research report on Monday, December 5th. Macquarie downgraded Cairn Energy PLC to a “neutral” rating and set a GBX 243 ($2.93) price target on the stock. in a research report on Thursday, January 5th. Numis Securities Ltd upgraded Cairn Energy PLC to a “buy” rating and increased their price target for the stock from GBX 210 ($2.53) to GBX 250 ($3.02) in a research report on Thursday, December 1st. GMP Securities downgraded Cairn Energy PLC to a “hold” rating and increased their price target for the stock from GBX 250 ($3.02) to GBX 260 ($3.14) in a research report on Wednesday. Finally, Goldman Sachs Group Inc. increased 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 report on Friday, December 16th. Fifteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of GBX 232.76 ($2.81).
Shares of Cairn Energy PLC (LON:CNE) opened at 239.30 on Friday. The company has a 50-day moving average price of GBX 229.28 and a 200 day moving average price of GBX 203.46. The company’s market capitalization is GBX 1.37 billion. Cairn Energy PLC has a 12-month low of GBX 125.00 and a 12-month high of GBX 250.60.
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.