Drax Group Plc (DRX) Given New GBX 425 Price Target at Credit Suisse Group AG
Drax Group Plc (LON:DRX) had its price objective boosted by equities research analysts at Credit Suisse Group AG from GBX 415 ($5.14) to GBX 425 ($5.26) in a note issued to investors on Monday. The firm currently has an “outperform” rating on the stock. Credit Suisse Group AG’s price target points to a potential upside of 36.52% from the company’s current price.
Several other equities research analysts have also recently weighed in on the company. Citigroup Inc. cut Drax Group Plc to a “sell” rating in a research report on Wednesday, August 3rd. HSBC upgraded Drax Group Plc to a “hold” rating in a research report on Friday, August 12th. Royal Bank Of Canada reiterated an “underperform” rating and set a GBX 280 ($3.47) price target on shares of Drax Group Plc in a research report on Tuesday, October 4th. JPMorgan Chase & Co. upped their price target on Drax Group Plc from GBX 350 ($4.33) to GBX 370 ($4.58) and gave the company a “neutral” rating in a research report on Thursday, July 28th. Finally, Jefferies Group cut Drax Group Plc to an “underperform” rating and upped their price target for the company from GBX 210 ($2.60) to GBX 240 ($2.97) in a research report on Thursday, September 22nd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Drax Group Plc has an average rating of “Hold” and an average target price of GBX 289.44 ($3.58).
Shares of Drax Group Plc (LON:DRX) opened at 314.10 on Monday. The firm’s market capitalization is GBX 1.28 billion. Drax Group Plc has a 1-year low of GBX 205.10 and a 1-year high of GBX 363.90. The stock has a 50 day moving average of GBX 307.83 and a 200-day moving average of GBX 312.04.
The company also recently announced a dividend, which was paid on Friday, October 7th. Shareholders of record on Thursday, September 22nd were paid a GBX 2.10 ($0.03) dividend. The ex-dividend date was Thursday, September 22nd. This represents a yield of 0.61%. This is a positive change from Drax Group Plc’s previous dividend of $0.60.
About Drax Group Plc
Drax Group Plc is engaged in the electricity generation; electricity supply to business customers, and manufacturing of sustainable compressed wood pellets for use in electricity production. The Company operates through three segments: Generation, which is engaged in the generation of electricity at Drax Power Station; Biomass Supply, which is engaged in the production of sustainable compressed wood pellets at its processing facilities in the United States, and Retail, which is engaged in the supply of power to business customers and wood pellets to the domestic heat market.
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