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Goldman Sachs raised their price objective on shares of Drax Group Plc (LON:DRX) from GBX 1,065 ($18.12) to GBX 1,098 ($18.69) in a research note issued on Tuesday. The firm currently has a “conviction-buy” rating on the stock. Goldman Sachs’ target price would suggest a potential upside of 71.56% from the company’s current price.

Shares of Drax Group Plc (LON:DRX) traded up 0.39% on Tuesday, hitting GBX 640.00. The stock had a trading volume of 578,917 shares. Drax Group Plc has a 52-week low of GBX 532.00 and a 52-week high of GBX 829.50. The stock’s 50-day moving average is GBX 633.8 and its 200-day moving average is GBX 740.4. The company’s market cap is £2.575 billion.

Other equities research analysts have also recently issued reports about the stock. Analysts at Sanford C. Bernstein reiterated a “market perform” rating on shares of Drax Group Plc in a research note on Wednesday, June 18th. They now have a GBX 640 ($10.89) price target on the stock. Separately, analysts at Investec reiterated a “buy” rating on shares of Drax Group Plc in a research note on Friday, June 13th. They now have a GBX 850 ($14.47) price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Drax Group Plc in a research note on Friday, June 13th. They now have a GBX 750 ($12.76) price target on the stock. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of GBX 815.88 ($13.88).

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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