Several other brokerages also recently issued reports on CNE. Goldman Sachs Group raised shares of Cairn Energy to a buy rating and set a GBX 288.20 ($3.72) price target on the stock in a report on Thursday, May 17th. BNP Paribas downgraded shares of Cairn Energy to a neutral rating and upped their price target for the company from GBX 230 ($2.97) to GBX 290 ($3.74) in a report on Wednesday, May 23rd. JPMorgan Chase & Co. upped their price objective on shares of Cairn Energy from GBX 300 ($3.87) to GBX 306 ($3.95) and gave the company an overweight rating in a research note on Thursday, July 12th. Citigroup reissued a buy rating on shares of Cairn Energy in a research note on Tuesday, July 10th. Finally, Investec downgraded shares of Cairn Energy to a hold rating and reduced their price objective for the company from GBX 310 ($4.00) to GBX 225 ($2.90) in a research note on Tuesday, August 14th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Cairn Energy presently has an average rating of Buy and a consensus price target of GBX 274.41 ($3.54).
Shares of LON CNE traded down GBX 2.20 ($0.03) on Friday, hitting GBX 230 ($2.97). The company’s stock had a trading volume of 2,324,916 shares, compared to its average volume of 1,590,000. Cairn Energy has a 12-month low of GBX 164.20 ($2.12) and a 12-month high of GBX 237 ($3.06).
Cairn Energy Company Profile
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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