Breaking: Investec Reconfirms GBX 130 Price Objective On Cairn Energy (LON:CNE) Shares, Reconfirms Their Original “Sell” Rating

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Cairn Energy (LON:CNE) Rating Reaffirmed

Cairn Energy (LON:CNE) just had their share rating of a ‘”Sell”‘ issued by research analysts at Investec, who now has a GBX 130 target PPS on the 840.29M GBP market cap company or a -11.14% downside potential. This key information was announced in a comprehensive report on Friday morning.

From a total of 21 analysts covering Cairn Energy PLC (LON:CNE) stock, 13 rate it a ”Buy”, 3 a “Sell”, and 8 a ”Hold”. This means that 54% of the ratings are positive. The highest target price is GBX 3.29 while the lowest target price is GBX 1.94. The mean of all analyst targets is GBX 2.63 with a 26.53% above today’s (GBX 147.7) stock price. Cairn Energy PLC was the topic of 40 analyst reports since August 3, 2015 according to the firm StockzIntelligence Inc. AlphaValue maintained shares on December 3 with “Add” rating. Barclays Capital downgraded shares to “Underweight” rating and GBX 170 target share price in a report from a November 10. Credit Suisse maintained CNE stock in a recent report from November 19 with “Underperform” rating. Canaccord Genuity maintained the rating on November 5. Canaccord Genuity has a “Speculative Buy” rating and a GBX 170 price target on shares. Finally, Liberum Capital maintained the stock with “Hold” rating in a report issued on a November 10.

Approximately 246,992 shares of stock traded hands. Cairn Energy PLC (LON:CNE) has declined 21.06% since May 7, 2015 and is downtrending. It has underperformed by 18.28% the S&P500.

Breaking: Investec Reconfirms GBX 130 Price Objective On Cairn Energy (LON:CNE) Shares, Reconfirms Their Original

Cairn Energy PLC is a United Kingdom independent gas and oil exploration and development company. The company has a market cap of 840.29 million GBP. The Company’s portfolio is focused in three geographical regions: North West Europe, the Atlantic Margin and the Mediterranean. It currently has negative earnings. Cairn has exploration and appraisal assets in the Atlantic Margin, North West Europe and the Mediterranean, and core development assets in the North Sea.

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