Cairn Energy (CNE) Price Target Cut to GBX 295

Cairn Energy (LON:CNE) had its price target decreased by Barclays from GBX 335 ($4.38) to GBX 295 ($3.85) in a report released on Wednesday, September 12th. Barclays currently has an overweight rating on the oil and gas development company’s stock.

A number of other brokerages have also weighed in on CNE. Canaccord Genuity reissued a speculative buy rating and issued a GBX 270 ($3.53) price target on shares of Cairn Energy in a report on Tuesday, August 21st. BNP Paribas lowered shares of Cairn Energy to a neutral rating and lifted their target price for the stock from GBX 230 ($3.01) to GBX 290 ($3.79) in a report on Wednesday, May 23rd. Peel Hunt reaffirmed an add rating on shares of Cairn Energy in a report on Monday, May 21st. Citigroup reaffirmed a buy rating on shares of Cairn Energy in a report on Wednesday, September 12th. Finally, Goldman Sachs Group raised shares of Cairn Energy to a buy rating and set a GBX 288.20 ($3.77) target price for the company in a report on Thursday, May 17th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of GBX 275.66 ($3.60).

Shares of LON CNE traded down GBX 4.60 ($0.06) during mid-day trading on Wednesday, hitting GBX 225.20 ($2.94). 1,032,408 shares of the stock were exchanged, compared to its average volume of 1,590,000. Cairn Energy has a twelve month low of GBX 164.20 ($2.15) and a twelve month high of GBX 237 ($3.10).

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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Analyst Recommendations for Cairn Energy (LON:CNE)

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