Drax Group Plc Stock Rating Reaffirmed by Citigroup Inc. (DRX)
Drax Group Plc (LON:DRX)‘s stock had its “buy” rating reiterated by research analysts at Citigroup Inc. in a report released on Tuesday. They currently have a GBX 750 ($12.76) target price on the stock. Citigroup Inc.’s price objective suggests a potential upside of 17.19% from the company’s current price.
Drax Group Plc (LON:DRX) traded up 0.39% during mid-day trading on Tuesday, hitting GBX 640.00. 578,917 shares of the company’s stock traded hands. Drax Group Plc has a one year low of GBX 532.00 and a one year high of GBX 829.50. The stock has a 50-day moving average of GBX 633.8 and a 200-day moving average of 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 Goldman Sachs raised their price target on shares of Drax Group Plc from GBX 1,065 ($18.12) to GBX 1,098 ($18.69) in a research note on Tuesday. They now have a “conviction-buy” rating on the stock. Separately, 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. Finally, 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. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target 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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