Drax Group Rating Reiterated by Bank of America Corp. (DRX)
Drax Group (LON:DRX)‘s stock had its “buy” rating reiterated by equities research analysts at Bank of America Corp. in a research note issued to investors on Thursday, AnalystRatingsNetwork.com reports. They currently have a GBX 775 ($12.41) target price on the stock. Bank of America Corp.’s price objective would indicate a potential upside of 13.30% from the stock’s previous close.
A number of other analysts have also recently weighed in on DRX. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Drax Group (LON:DRX) in a research note to investors on Wednesday. They now have a GBX 725 ($11.61) price target on the stock. Separately, analysts at AlphaValue upgraded shares of Drax Group (LON:DRX) to a “reduce” rating in a research note to investors on Monday, September 16th. They now have a GBX 662 ($10.60) price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Drax Group (LON:DRX) in a research note to investors on Friday, September 13th. They now have a GBX 770 ($12.33) price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of GBX 723.40 ($11.59).
Shares of Drax Group (LON:DRX) traded up 0.07% on Thursday, hitting GBX 684.00. The stock had a trading volume of 658,560 shares. Drax Group has a 52 week low of GBX 465.533 and a 52 week high of GBX 722.00. The stock’s 50-day moving average is GBX 686.1 and its 200-day moving average is GBX 622.7. The company’s market cap is £2.750 billion.
Drax Group plc is the holding company of the Drax group of companies. The Company is engaged in the generation and sale of electricity and by-products of the electricity generation process at Drax Power Station, Selby, North Yorkshire and the sale of electricity to business customers by Haven Power Limited (LON:DRX).
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