Drax Group Plc Price Target Increased to GBX 820 by Analysts at Liberum Capital (DRX)
Equities researchers at Liberum Capital hoisted their price target on shares of Drax Group Plc (LON:DRX) from GBX 735 ($12.32) to GBX 820 ($13.74) in a research report issued on Thursday, AmericanBankingNews.com reports. The firm currently has a “buy” rating on the stock. Liberum Capital’s price target indicates a potential upside of 1.11% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs reiterated a “conviction-buy” rating on shares of Drax Group Plc in a research note on Thursday. Separately, analysts at Barclays raised their price target on shares of Drax Group Plc from GBX 915 ($15.33) to GBX 950 ($15.92) in a research note on Wednesday. They now have an “overweight” rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Drax Group Plc in a research note on Wednesday. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Drax Group Plc presently has a consensus rating of “Buy” and an average target price of GBX 840.47 ($14.09).
Shares of Drax Group Plc (LON:DRX) traded up 0.06% during mid-day trading on Thursday, hitting GBX 810.4999. The stock had a trading volume of 673,831 shares. Drax Group Plc 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 804.5 and a 200-day moving average of GBX 723.3. The company’s market cap is £3.258 billion.
The company also recently declared a dividend, which is scheduled for Friday, May 16th. Investors of record on Wednesday, April 23rd will be given a dividend of GBX 8.90 ($0.15) per share. This represents a yield of 1.11%. The ex-dividend date of this dividend is Wednesday, April 23rd.
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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