Drax Group Plc Given “Market Perform” Rating at Sanford C. Bernstein (DRX)
Drax Group Plc (LON:DRX)‘s stock had its “market perform” rating reaffirmed by analysts at Sanford C. Bernstein in a research report issued to clients and investors on Friday. They currently have a GBX 720 ($12.12) price objective on the stock. Sanford C. Bernstein’s price objective would indicate a potential upside of 10.51% from the stock’s previous close.
Shares of Drax Group Plc (LON:DRX) opened at 654.50 on Friday. Drax Group Plc has a 52-week low of GBX 583.50 and a 52-week high of GBX 829.50. The stock has a 50-day moving average of GBX 676.5 and a 200-day moving average of GBX 715.7. The company’s market cap is £2.644 billion.
The company also recently announced a dividend, which is scheduled for Friday, October 10th. Investors 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.
A number of other firms have also recently commented on DRX. Analysts at Credit Suisse cut their price target on shares of Drax Group Plc from GBX 805 ($13.55) to GBX 750 ($12.62) in a research note on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Societe Generale cut their price target on shares of Drax Group Plc from GBX 630 ($10.60) to GBX 500 ($8.41) in a research note on Friday. They now have a “sell” rating on the stock. Finally, analysts at Deutsche Bank cut their price target on shares of Drax Group Plc from GBX 750 ($12.62) to GBX 700 ($11.78) in a research note on Monday. They now have a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Drax Group Plc presently has a consensus rating of “Buy” and an average target price of GBX 802.17 ($13.50).
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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