Drax Group Now Covered by Investec (DRX)
Equities researchers at Investec started coverage on shares of Drax Group (LON:DRX) in a research report issued on Thursday, StockRatingsNetwork reports. The firm set an “add” rating and a GBX 700 ($11.23) price target on the stock. Investec’s price target indicates a potential upside of 5.66% from the company’s current price.
Drax Group (LON:DRX) opened at 660.50 on Thursday. Drax Group has a 1-year low of GBX 465.533 and a 1-year high of GBX 722.00. The stock has a 50-day moving average of GBX 686.1 and a 200-day moving average of GBX 622.7. The company’s market cap is £2.655 billion.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Drax Group in a research note to investors on Friday, October 4th. They now have a GBX 725 ($11.63) price target on the stock. Separately, analysts at RBC Capital reiterated an “outperform” rating on shares of Drax Group in a research note to investors on Tuesday, October 1st. They now have a GBX 800 ($12.83) price target on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Drax Group from GBX 570 ($9.14) to GBX 690 ($11.07) in a research note to investors on Friday, September 27th. They now have a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of GBX 728.77 ($11.69).
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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