Drax Group Plc Receives Overweight Rating from HSBC (DRX)
Drax Group Plc (LON:DRX)‘s stock had its “overweight” rating reaffirmed by research analysts at HSBC in a report released on Friday. They currently have a GBX 775 ($13.04) target price on the stock. HSBC’s price objective would indicate a potential upside of 21.76% 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 Friday, May 23rd. They now have a GBX 1,065 ($17.93) price target on the stock. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of Drax Group Plc in a research note on Wednesday, May 21st. They now have a GBX 695 ($11.70) price target on the stock. Finally, analysts at Societe Generale reiterated a “hold” rating on shares of Drax Group Plc in a research note on Monday, May 12th. They now have a GBX 680 ($11.45) price target on the stock. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of GBX 824.81 ($13.88).
Shares of Drax Group Plc (LON:DRX) opened at 628.00 on Friday. Drax Group Plc 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 670.2 and its 200-day moving average is GBX 746.1. The company’s market cap is £2.526 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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