Drax Group Plc Price Target Cut to GBX 1,052 (DRX)
Equities research analysts at Goldman Sachs lowered their price target on shares of Drax Group Plc (LON:DRX) from GBX 1,098 ($18.64) to GBX 1,052 ($17.86) in a research note issued to investors on Tuesday. The firm currently has a “strong-buy” rating on the stock. Goldman Sachs’ price target suggests a potential upside of 52.80% from the company’s current price.
Shares of Drax Group Plc (LON:DRX) traded up 1.89% on Tuesday, hitting GBX 699.50. The stock had a trading volume of 1,360,046 shares. Drax Group Plc has a 52-week low of GBX 583.50 and a 52-week high of GBX 829.50. The stock’s 50-day moving average is GBX 665.6 and its 200-day moving average is GBX 721.2. The company’s market cap is £2.814 billion.
The company also recently announced a dividend, which is scheduled for Friday, October 10th. Stockholders of record on Wednesday, September 24th will be paid a dividend of GBX 4.70 ($0.08) per share. This represents a dividend yield of 0.67%. The ex-dividend date is Wednesday, September 24th.
Other equities research analysts have also recently issued reports about the stock. Analysts at BNP Paribas reiterated an “outperform” rating on shares of Drax Group Plc in a research note on Friday. They now have a GBX 900 ($15.28) price target on the stock. Separately, analysts at Societe Generale downgraded shares of Drax Group Plc to a “sell” rating in a research note on Friday. They now have a GBX 630 ($10.70) price target on the stock, down previously from GBX 680 ($11.55). Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Drax Group Plc in a research note on Thursday, July 24th. They now have a GBX 700 ($11.89) price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of GBX 812.17 ($13.79).
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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