Cairn Energy (LON:CNE) was upgraded by equities research analysts at JPMorgan Chase & Co. to an “overweight” rating in a research note issued to investors on Thursday, American Banking and Market News reports. The firm currently has a GBX 365 ($5.92) price objective on the stock, up from their previous price objective of GBX 340 ($5.52). JPMorgan Chase & Co.’s price objective points to a potential upside of 36.19% from the stock’s previous close.
Shares of Cairn Energy (LON:CNE) opened at 274.40 on Thursday. Cairn Energy has a 52-week low of GBX 250.70 and a 52-week high of GBX 309.60. The stock has a 50-day moving average of GBX 274. and a 200-day moving average of GBX 271.. The company’s market cap is £1.639 billion.
A number of other firms have also recently commented on CNE. Analysts at BNP Paribas reiterated an “outperform” rating on shares of Cairn Energy in a research note to investors on Monday. They now have a GBX 335 ($5.44) price target on the stock. Separately, analysts at UBS AG cut their price target on shares of Cairn Energy from GBX 310 ($5.03) to GBX 305 ($4.95) in a research note to investors on Monday, November 18th. They now have a “buy” rating on the stock. Finally, analysts at Davy Research reiterated an “outperform” rating on shares of Cairn Energy in a research note to investors on Friday, November 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of GBX 358.74 ($5.82).
Cairn Energy PLC (LON:CNE) is an independent oil and gas exploration and development company.
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