Cairn Energy (LON:CNE) had its price objective trimmed by JPMorgan Chase & Co. from GBX 306 ($4.00) to GBX 271 ($3.54) in a research report report published on Tuesday morning. The brokerage currently has an overweight rating on the oil and gas development company’s stock.
A number of other equities analysts have also recently issued reports on CNE. Peel Hunt reaffirmed an add rating on shares of Cairn Energy in a report on Thursday, November 15th. UBS Group upped their target price on Cairn Energy from GBX 280 ($3.66) to GBX 300 ($3.92) and gave the stock a buy rating in a report on Monday, July 23rd. Berenberg Bank assumed coverage on Cairn Energy in a report on Thursday, November 1st. They issued a buy rating and a GBX 240 ($3.14) target price for the company. Citigroup reaffirmed a buy rating on shares of Cairn Energy in a report on Wednesday, September 12th. Finally, Barclays upped their target price on Cairn Energy from GBX 295 ($3.85) to GBX 300 ($3.92) and gave the stock an overweight rating in a report on Wednesday, October 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. Cairn Energy presently has a consensus rating of Buy and a consensus price target of GBX 269.61 ($3.52).
Shares of CNE opened at GBX 176.40 ($2.30) on Tuesday. Cairn Energy has a 12-month low of GBX 164.20 ($2.15) and a 12-month high of GBX 237 ($3.10).
Cairn Energy PLC operates as an oil and gas exploration and production company. It holds a portfolio of exploration, development, and production assets in the United Kingdom; Norway; Mexico; and the Atlantic Margin, including Senegal and the Republic of Ireland. The company was incorporated in 2002 and is headquartered in Edinburgh, the United Kingdom.
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