Numis analyst Thomas Martin continued to talk up Cairn Energy PLC ( LON:CNE ) whilst the broker downgraded its price target for the oil field developer. Martin, in a note, detailed that the Numis target price reduced to 260p from 270p due to 'a number of model updates' (with the risked net asset value moving to 258p from 266p). The broker's 'buy' recommendation remains. The analyst emphasised the group has built a sustainable E&P business. "We see the potential for Cairn to deliver multi-year, profitable, growth into the next decade," Martin said in a note.