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AF. Bauer Initiates Coverage on Cairn Energy PLC (CNE)
Analysts at AF. Bauer initiated coverage on shares of Cairn Energy PLC (LON:CNE) in a report released on Monday. The brokerage set an “equal weight” rating and a GBX 260 ($3.16) price target on the oil and gas development company’s stock. AF. Bauer’s price target indicates a potential upside of 8.79% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Numis Securities Ltd upgraded shares of Cairn Energy PLC to a “buy” rating and lifted their target price for the stock from GBX 210 ($2.55) to GBX 250 ($3.04) in a research report on Thursday, December 1st. Barclays PLC reiterated an “overweight” rating and set a GBX 295 ($3.59) target price on shares of Cairn Energy PLC in a research report on Monday, October 17th. Jefferies Group reiterated a “buy” rating and set a GBX 285 ($3.47) target price on shares of Cairn Energy PLC in a research report on Thursday, October 6th. Macquarie downgraded shares of Cairn Energy PLC to a “neutral” rating and set a GBX 243 ($2.96) target price on the stock. in a research report on Thursday, January 5th. Finally, Canaccord Genuity upgraded shares of Cairn Energy PLC to a “buy” rating and set a GBX 230 ($2.80) target price on the stock in a research report on Friday, September 16th. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of GBX 230.17 ($2.80).

Shares of Cairn Energy PLC (LON:CNE) opened at 239.68 on Monday. The company’s market cap is GBX 1.37 billion. Cairn Energy PLC has a 12 month low of GBX 124.70 and a 12 month high of GBX 243.00. The stock’s 50 day moving average is GBX 217.09 and its 200 day moving average is GBX 200.69.



About Cairn Energy PLC

Cairn Energy PLC (Cairn) is a United Kingdom-based independent oil and gas exploration and development company.
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