Deutsche Bank Reiterates “Hold” Rating for Drax Group Plc (DRX)
Drax Group Plc (LON:DRX)‘s stock had its “hold” rating reiterated by investment analysts at Deutsche Bank in a note issued to investors on Monday. They currently have a GBX 700 ($11.92) price objective on the stock. Deutsche Bank’s price target indicates a potential upside of 9.46% from the company’s current price.
Shares of Drax Group Plc (LON:DRX) traded up 0.16% on Monday, hitting GBX 640.50. The stock had a trading volume of 283,109 shares. Drax Group Plc has a one year low of GBX 574.50 and a one year high of GBX 829.50. The stock has a 50-day moving average of GBX 630.2 and a 200-day moving average of GBX 738.2. The company’s market cap is £2.577 billion.
DRX has been the subject of a number of other recent research reports. Analysts at RBC Capital reiterated an “outperform” rating on shares of Drax Group Plc in a research note on Friday. They now have a GBX 780 ($13.29) 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. They now have a GBX 850 ($14.48) 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 Wednesday, June 25th. They now have a GBX 680 ($11.58) price target on the stock. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of GBX 815.88 ($13.90).
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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