Drax Group Plc Given “Outperform” Rating at RBC Capital (DRX)
Drax Group Plc (LON:DRX)‘s stock had its “outperform” rating reaffirmed by analysts at RBC Capital in a research report issued to clients and investors on Friday. They currently have a GBX 750 ($12.58) target price on the stock. RBC Capital’s target price suggests a potential upside of 16.28% from the stock’s previous close.
Drax Group Plc (LON:DRX) opened at 646.95 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’s 50-day moving average is GBX 677.6 and its 200-day moving average is GBX 710.1. The company’s market cap is £2.613 billion.
The company also recently announced a dividend, which is scheduled for Friday, October 10th. Shareholders 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.
Several other analysts have also recently commented on the stock. Analysts at Sanford C. Bernstein downgraded shares of Drax Group Plc to an “underperform” rating in a research note on Thursday. They now have a GBX 550 ($9.23) price target on the stock. Finally, analysts at Credit Suisse cut their price target on shares of Drax Group Plc from GBX 805 ($13.50) to GBX 750 ($12.58) in a research note on Friday, August 8th. They now have an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Drax Group Plc has an average rating of “Buy” and an average target price of GBX 791.06 ($13.27).
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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