Deutsche Bank Reiterates “Buy” Rating for Drax Group (DRX)
Drax Group (LON:DRX)‘s stock had its “buy” rating reiterated by equities research analysts at Deutsche Bank in a research note issued to investors on Tuesday, AnalystRatingsNetwork.com reports. They currently have a GBX 850 ($13.95) target price on the stock. Deutsche Bank’s price target indicates a potential upside of 5.26% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Drax Group from GBX 810 ($13.29) to GBX 845 ($13.86) in a research note on Thursday, February 6th. They now have an “overweight” rating on the stock. Separately, analysts at Investec raised their price target on shares of Drax Group from GBX 725 ($11.89) to GBX 1,000 ($16.41) in a research note on Wednesday, February 5th. They now have a “buy” rating on the stock. Finally, analysts at Barclays reiterated an “overweight” rating on shares of Drax Group in a research note on Wednesday, January 15th. They now have a GBX 915 ($15.01) price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Drax Group presently has an average rating of “Buy” and an average price target of GBX 812.81 ($13.34).
Shares of Drax Group (LON:DRX) traded up 0.94% during mid-day trading on Tuesday, hitting GBX 807.50. The stock had a trading volume of 430,593 shares. Drax Group has a 1-year low of GBX 527.50 and a 1-year high of GBX 829.50. The stock’s 50-day moving average is GBX 803.3 and its 200-day moving average is GBX 715.6. The company’s market cap is £3.246 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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