Drax Group Plc (DRX) Receives GBX 300.43 Average Target Price from Analysts
Shares of Drax Group Plc (LON:DRX) have been assigned a consensus recommendation of “Hold” from the sixteen brokerages that are covering the firm. Three investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is GBX 300.43 ($3.73).
DRX has been the subject of a number of research analyst reports. Citigroup Inc. cut Drax Group Plc to a “sell” rating in a research note on Wednesday, August 3rd. HSBC upgraded Drax Group Plc to a “hold” rating in a research note on Friday, August 12th. Barclays PLC restated an “overweight” rating on shares of Drax Group Plc in a research note on Friday, August 19th. Credit Suisse Group AG restated an “outperform” rating and issued a GBX 415 ($5.15) price objective on shares of Drax Group Plc in a research note on Thursday, September 8th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a GBX 370 ($4.59) price objective on shares of Drax Group Plc in a research note on Thursday, September 15th.
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Drax Group Plc (LON:DRX) opened at 279.80 on Friday. Drax Group Plc has a 12-month low of GBX 205.10 and a 12-month high of GBX 363.90. The company has a 50-day moving average price of GBX 304.29 and a 200-day moving average price of GBX 313.11. The stock’s market capitalization is GBX 1.14 billion.
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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