Credit Suisse Lowers Drax Group Plc Price Target to GBX 750 (DRX)
Equities researchers at Credit Suisse lowered their price target on shares of Drax Group Plc (LON:DRX) from GBX 805 ($13.55) to GBX 750 ($12.62) in a research report issued on Friday. The firm currently has an “outperform” rating on the stock. Credit Suisse’s price objective suggests a potential upside of 15.21% from the stock’s previous close.
A number of other firms have also recently commented on DRX. 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. Separately, 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, August 4th. They now have a “hold” rating on the stock. Finally, analysts at Investec reiterated a “buy” rating on shares of Drax Group Plc in a research note on Friday, August 1st. They now have a GBX 850 ($14.30) price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of GBX 802.17 ($13.50).
Shares of Drax Group Plc (LON:DRX) traded down 0.08% during mid-day trading on Friday, hitting GBX 651.00. 1,929,080 shares of the company’s stock traded hands. 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 677.3 and its 200-day moving average is GBX 715.2. The company’s market cap is £2.629 billion.
The company also recently declared a dividend, which is scheduled for Friday, October 10th. Stockholders of record on Wednesday, September 24th will be given a dividend of GBX 4.70 ($0.08) per share. This represents a yield of 0.67%. The ex-dividend date of this dividend is Wednesday, September 24th.
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).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.