Drax Group Plc’s (DRX) “Overweight” Rating Reaffirmed at Barclays PLC
A number of other equities research analysts also recently issued reports on DRX. Credit Suisse Group AG lifted their price target on shares of Drax Group Plc from GBX 325 ($4.06) to GBX 415 ($5.18) and gave the company an outperform rating in a research report on Wednesday, July 27th. Deutsche Bank AG lifted their price objective on Drax Group Plc from GBX 250 ($3.12) to GBX 300 ($3.75) and gave the stock a hold rating in a research report on Wednesday, July 27th. BNP Paribas downgraded Drax Group Plc to a neutral rating and set a GBX 340 ($4.25) price objective for the company. in a research report on Wednesday, July 27th. JPMorgan Chase & Co. lifted their price objective on Drax Group Plc from GBX 350 ($4.37) to GBX 370 ($4.62) and gave the stock a neutral rating in a research report on Thursday, July 28th. Finally, Citigroup Inc. downgraded Drax Group Plc to a sell rating in a research report on Wednesday, August 3rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of GBX 289.75 ($3.62).
Drax Group Plc (LON:DRX) opened at 282.30 on Thursday. The firm’s market capitalization is GBX 1.15 billion. Drax Group Plc has a 1-year low of GBX 205.10 and a 1-year high of GBX 363.90. The firm’s 50-day moving average price is GBX 305.47 and its 200-day moving average price is GBX 313.57.
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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