Drax Group Plc (DRX) Given New GBX 325 Price Target at Barclays PLC
Drax Group Plc (LON:DRX) had its target price increased by analysts at Barclays PLC from GBX 320 ($4.00) to GBX 325 ($4.06) in a note issued to investors on Friday. The brokerage currently has a ” overweight” rating on the stock. Barclays PLC’s target price indicates a potential upside of 15.82% from the stock’s previous close.
A number of other equities analysts also recently weighed in on the stock. Credit Suisse Group AG upped their price target on shares of Drax Group Plc from GBX 415 ($5.18) to GBX 425 ($5.31) and gave the stock an “outperform” rating in a research note on Monday, October 17th. Citigroup Inc. downgraded shares of Drax Group Plc to a “sell” rating in a research note on Wednesday, August 3rd. HSBC raised shares of Drax Group Plc to a “hold” rating in a research note on Friday, August 12th. Royal Bank Of Canada reaffirmed an “underperform” rating and issued a GBX 280 ($3.50) price target on shares of Drax Group Plc in a research note on Tuesday, October 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of Drax Group Plc from GBX 350 ($4.37) to GBX 370 ($4.62) and gave the stock a “neutral” rating in a research note on Thursday, July 28th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. Drax Group Plc presently has a consensus rating of “Hold” and an average target price of GBX 289.75 ($3.62).
Shares of Drax Group Plc (LON:DRX) opened at 281.00 on Friday. The company’s market capitalization is GBX 1.14 billion. Drax Group Plc has a one year low of GBX 205.10 and a one year high of GBX 363.90. The company has a 50-day moving average price of GBX 305.47 and a 200 day moving average price of GBX 313.57.
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Drax Group Plc Company Profile
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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