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Home / Stocks and Markets at Lows / Cairn Energy PLC (CNE.L) 08-11-19

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) 08-11-19

Shares in Cairn Energy PLC (CNE.L) have fallen dramatically from recent highs of 206.8p. Will it continue, or is this an opportunity to pick up a bargain?

 

  • Now trading at 178.3p (at time of writing). A return to previous highs would represent a rise of 16%.
  • The market often over-reacts to bad news. Traders should consider whether it is down for good reason, or is this another over-reaction?
  • Shares -16% from 12-month highs; +27% from 12 month lows.

Latest News

31 Oct:  RBC Capital Markets reiterates its sector performer rating on Cairn Energy (CNE) and reduced the target price to 200p (from 210p).

29 Oct:  JP Morgan Cazenove reiterates its overweight rating on Cairn Energy (CNE) and reduced the target price to 268p (from 272p).

28 Oct:  Cairn Energy have announced that its Alom-1 offshore well in Mexico was found to be dry following exploration.

28 Oct:  Cairn Energy stated that a decision over its $1.4bn tax claim against the Indian authorities would be made in mid-2020, following a tribunal.

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

 

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