Drax Group Plc Rating Increased to Outperform at Credit Suisse (DRX)
Drax Group Plc (LON:DRX) was upgraded by equities researchers at Credit Suisse to an “outperform” rating in a research report issued on Thursday. The firm currently has a GBX 750 ($12.77) price objective on the stock, up from their previous price objective of GBX 695 ($11.84). Credit Suisse’s price target would indicate a potential upside of 13.64% from the stock’s previous close.
Drax Group Plc (LON:DRX) traded up 3.95% on Thursday, hitting GBX 686.06. 1,056,189 shares of the company’s stock traded hands. Drax Group Plc has a 1-year low of GBX 583.50 and a 1-year high of GBX 829.50. The stock has a 50-day moving average of GBX 629.3 and a 200-day moving average of GBX 734.8. The company’s market cap is £2.760 billion.
A number of other analysts have also recently weighed in on DRX. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Drax Group Plc in a research note on Monday. They now have a GBX 700 ($11.92) price target on the stock. Separately, analysts at RBC Capital reiterated an “outperform” rating on shares of Drax Group Plc in a research note on Friday, June 27th. They now have a GBX 780 ($13.29) 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 27th. They now have a GBX 850 ($14.48) price target on the stock. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Drax Group Plc has a consensus rating of “Buy” and a consensus price target of GBX 819.12 ($13.95).
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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