Drax Group Stock Rating Reaffirmed by Deutsche Bank (DRX)
Drax Group (LON:DRX)‘s stock had its “buy” rating restated by Deutsche Bank in a research note issued on Friday, ARN reports. They currently have a GBX 770 ($12.29) target price on the stock. Deutsche Bank’s target price suggests a potential upside of 22.81% from the company’s current price.
DRX has been the subject of a number of other recent research reports. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Drax Group in a research note to investors on Wednesday. They now have a GBX 690 ($11.02) price target on the stock. Separately, analysts at HSBC cut their price target on shares of Drax Group from GBX 735 ($11.73) to GBX 680 ($10.86) in a research note to investors on Monday. They now have a “neutral” rating on the stock. Finally, analysts at AlphaValue reiterated a “reduce” rating on shares of Drax Group in a research note to investors on Thursday, October 10th. They now have a GBX 677 ($10.81) price target on the stock. Two 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. Drax Group presently has a consensus rating of “Buy” and an average target price of GBX 726.85 ($11.60).
Shares of Drax Group (LON:DRX) opened at 637.50 on Friday. 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 £2.563 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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