Breaking: Bernstein Reconfirms GBX 210 Target Price On Cairn Energy (LON:CNE) Shares, Reconfirms Their Original “Market Perform” Rating

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Cairn Energy (LON:CNE) Rating Reaffirmed

In an analyst research report sent to investors and clients this morning, Bernstein has decided to restate their “Market Perform” rating on Cairn Energy (LON:CNE) shares. The target would suggest a possible upside of 48.62% from firm’s close price.

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 3.33 while the lowest target price is GBX 1.97. The mean of all analyst targets is GBX 2.68 with a 32.80% above today’s (GBX 140.72) stock price. Cairn Energy PLC was the topic of 41 analyst reports since August 3, 2015 according to the firm StockzIntelligence Inc. Investec maintained shares on December 4 with “Sell” rating. Liberum Capital maintained shares with “Hold” rating and GBX 165 target share price in a report from a November 10. Jefferies maintained CNE stock in a recent report from December 1 with “Buy” rating. Barclays Capital downgraded the rating on November 10. Barclays Capital has a “Underweight” rating and a GBX 170 price target on shares. Finally, Numis Securities maintained the stock with “Hold” rating in a report issued on a November 18.

Approximately 136,278 shares of stock traded hands. Cairn Energy PLC (LON:CNE) has declined 23.21% since May 8, 2015 and is downtrending. It has underperformed by 22.13% the S&P500.

Breaking: Bernstein Reconfirms GBX 210 Target Price 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 806.77 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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