Drax Group Plc Receives Consensus Rating of “Buy” from Brokerages (LON:DRX)
Drax Group Plc (LON:DRX) has earned an average recommendation of “Buy” from the nineteen ratings firms that are presently covering the company, AmericanBankingNews.com reports. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is GBX 819.12 ($14.02).
Drax Group Plc (LON:DRX) opened at 710.00 on Friday. Drax Group Plc has a one year low of GBX 583.50 and a one year high of GBX 829.50. The stock’s 50-day moving average is GBX 646.3 and its 200-day moving average is GBX 729.3. The company’s market cap is £2.856 billion.
DRX has been the subject of a number of 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 ($13.35) price target on the stock. Separately, analysts at Credit Suisse upgraded shares of Drax Group Plc to an “outperform” rating in a research note on Thursday, July 3rd. They now have a GBX 750 ($12.84) price target on the stock, up previously from GBX 695 ($11.90). Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Drax Group Plc in a research note on Monday, June 30th. They now have a GBX 700 ($11.98) price target on the stock.
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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