Citigroup Inc. Upgrades Drax Group Plc to “Buy” (DRX)
Drax Group Plc (LON:DRX) was upgraded by stock analysts at Citigroup Inc. to a “buy” rating in a report issued on Monday, Analyst Ratings Network.com reports. The firm currently has a GBX 750 ($12.60) price objective on the stock, down from their previous price objective of GBX 800 ($13.44). Citigroup Inc.’s target price points to a potential upside of 13.55% from the stock’s previous close.
Shares of Drax Group Plc (LON:DRX) opened at 668.50 on Monday. Drax Group Plc has a 52 week low of GBX 527.50 and a 52 week high of GBX 829.50. The stock’s 50-day moving average is GBX 753.7 and its 200-day moving average is GBX 747.. The company’s market cap is £2.689 billion.
DRX has been the subject of a number of other recent research reports. Analysts at Societe Generale upgraded shares of Drax Group Plc to a “hold” rating in a research note on Monday. They now have a GBX 680 ($11.42) price target on the stock, down previously from GBX 710 ($11.93). Separately, analysts at Deutsche Bank downgraded shares of Drax Group Plc to a “hold” rating in a research note on Friday. They now have a GBX 700 ($11.76) price target on the stock, down previously from GBX 900 ($15.12). Finally, analysts at Liberum Capital reiterated a “buy” rating on shares of Drax Group Plc in a research note on Friday. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Drax Group Plc has an average rating of “Buy” and an average target price of GBX 839 ($14.10).
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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