Drax Group (DRX) PT Lowered to GBX 350
Drax Group (LON:DRX) had its price target decreased by analysts at Credit Suisse Group from GBX 370 ($4.98) to GBX 350 ($4.71) in a research note issued on Thursday. The firm presently has an “outperform” rating on the stock. Credit Suisse Group’s price objective would indicate a potential upside of 29.20% from the stock’s current price.
A number of other research firms have also weighed in on DRX. J P Morgan Chase & Co reissued an “overweight” rating and set a GBX 390 ($5.25) price objective on shares of Drax Group in a research note on Tuesday, November 28th. Macquarie reaffirmed a “neutral” rating and issued a GBX 370 ($4.98) price target on shares of Drax Group in a research note on Thursday, October 26th. Citigroup reaffirmed a “neutral” rating and issued a GBX 310 ($4.17) price target on shares of Drax Group in a research note on Friday, November 17th. Deutsche Bank decreased their price target on Drax Group from GBX 310 ($4.17) to GBX 300 ($4.04) and set a “hold” rating on the stock in a research note on Wednesday, December 6th. Finally, HSBC decreased their price target on Drax Group from GBX 360 ($4.85) to GBX 290 ($3.90) and set a “hold” rating on the stock in a research note on Monday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Drax Group presently has an average rating of “Hold” and an average target price of GBX 368.21 ($4.96).
Drax Group (LON DRX) opened at GBX 270.90 ($3.65) on Thursday. Drax Group has a 12 month low of GBX 253.50 ($3.41) and a 12 month high of GBX 393.20 ($5.29).
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Drax Group 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’s segments include 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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