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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

This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.


Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance.

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