Drax Group Plc Stock Rating Lowered by Societe Generale (DRX)
Drax Group Plc (LON:DRX) was downgraded by analysts at Societe Generale to a “sell” rating in a research report issued to clients and investors on Friday. They currently have a GBX 630 ($10.77) target price on the stock, down from their previous target price of GBX 680 ($11.62). Societe Generale’s target price would indicate a potential downside of 5.76% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Drax Group Plc in a research note on Thursday. They now have a GBX 700 ($11.96) price target 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 Monday, July 21st. They now have a GBX 720 ($12.30) price target on the stock. Finally, analysts at Citigroup Inc. downgraded shares of Drax Group Plc to a “neutral” rating in a research note on Thursday, July 17th. They now have a GBX 700 ($11.96) price target on the stock, down previously from GBX 750 ($12.82). One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Drax Group Plc has a consensus rating of “Buy” and an average target price of GBX 817.94 ($13.98).
Shares of Drax Group Plc (LON:DRX) opened at 668.50 on Friday. 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 662.6 and a 200-day moving average of GBX 723.9. The company’s market cap is £2.689 billion.
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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