Drax Group Given New GBX 845 Price Target at JPMorgan Chase & Co. (DRX)
Analysts at JPMorgan Chase & Co. raised their target price on shares of Drax Group (LON:DRX) from GBX 810 ($13.31) to GBX 845 ($13.89) in a research report issued to clients and investors on Thursday, AnalystRatingsNetwork.com reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target points to a potential upside of 6.36% from the company’s current price.
Shares of Drax Group (LON:DRX) traded down 0.44% during mid-day trading on Thursday, hitting GBX 794.50. The stock had a trading volume of 644,463 shares. Drax Group has a 52 week low of GBX 527.50 and a 52 week high of GBX 829.50. The stock has a 50-day moving average of GBX 802.1 and a 200-day moving average of GBX 711.3. The company’s market cap is £3.194 billion.
Several other analysts have also recently commented on the stock. Analysts at Investec raised their price target on shares of Drax Group from GBX 725 ($11.91) to GBX 1,000 ($16.43) in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Barclays reiterated an “overweight” rating on shares of Drax Group in a research note to investors on Wednesday, January 15th. They now have a GBX 915 ($15.04) price target on the stock. Finally, analysts at BNP Paribas raised their price target on shares of Drax Group from GBX 830 ($13.64) to GBX 950 ($15.61) in a research note to investors on Monday, January 13th. They now have an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of GBX 812.81 ($13.36).
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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