Drax Group Plc’s (DRX) “Neutral” Rating Reaffirmed at BNP Paribas
BNP Paribas reaffirmed their neutral rating on shares of Drax Group Plc (LON:DRX) in a research report report published on Tuesday morning. They currently have a GBX 340 ($4.22) target price on the stock.
A number of other brokerages also recently weighed in on DRX. Citigroup Inc. downgraded shares of Drax Group Plc to a sell rating in a report on Wednesday, August 3rd. Credit Suisse Group AG reaffirmed an outperform rating and set a GBX 415 ($5.15) price target on shares of Drax Group Plc in a report on Thursday, September 8th. Jefferies Group downgraded shares of Drax Group Plc to an underperform rating and upped their price target for the stock from GBX 210 ($2.61) to GBX 240 ($2.98) in a report on Thursday, September 22nd. HSBC raised shares of Drax Group Plc to a hold rating in a report on Friday, August 12th. Finally, JPMorgan Chase & Co. reaffirmed a neutral rating and set a GBX 370 ($4.59) price target on shares of Drax Group Plc in a report on Thursday, September 15th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of GBX 295.73 ($3.67).
Shares of Drax Group Plc (LON:DRX) opened at 287.50 on Tuesday. Drax Group Plc has a 12-month low of GBX 205.10 and a 12-month high of GBX 363.90. The firm’s market cap is GBX 1.17 billion. The firm’s 50-day moving average is GBX 304.29 and its 200-day moving average is GBX 313.11.
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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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