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Home / Momentum / Cairn Energy PLC (CNE.L) 05-05-20

This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

Cairn Energy PLC (CNE.L) 05-05-20

Will shares in Cairn Energy PLC (CNE.L) continue to push upwards, reaching new highs?

  • Now trading at 118.4p (at time of writing), the share price momentum has been very strong.
  • Will it come to an end, or is this trend your friend?
  • Could this be the ideal opportunity for momentum traders?
  • Shares -43% from 12-month highs; +95% from 12 month lows.

Latest News

09:16:  Cairn Energy, the oil and gas group, announced that the Ehecatl-1 exploration well offshore Mexico did not uncover reservoired hydrocarbons.

29 Apr:  Berenberg has downgraded its rating on Cairn Energy (CNE) to hold (from buy) and reduced the target price to 130p (from 190p).

03 Apr:  Peel Hunt reiterates its buy rating on Cairn Energy (CNE) and reduced the target price to 120p (from 150p).

16 Mar:  RBC Capital Markets has upgraded its rating on Cairn Energy (CNE) to outperform (from sector performer) and reduced the target price to 120p (from 200p).

10 Mar:  Cairn Energy moved into a profit on sales after production hit the top end of previous guidance.

06 Mar:  Peel Hunt reiterates its buy rating on Cairn Energy (CNE) and reduced the target price to 200p (from 230p).

Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires

Click to enlarge

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