Drax Group Plc (DRX) Given New GBX 425 Price Target at Credit Suisse Group AG
Drax Group Plc (LON:DRX) had its target price increased by equities researchers at Credit Suisse Group AG from GBX 415 ($5.14) to GBX 425 ($5.26) in a research report issued to clients and investors on Monday. The brokerage presently has an “outperform” rating on the stock. Credit Suisse Group AG’s price objective indicates a potential upside of 36.52% from the company’s previous close.
Other research analysts have also recently issued reports about the company. Deutsche Bank AG reaffirmed a “hold” rating and set a GBX 250 ($3.09) price objective on shares of Drax Group Plc in a research report on Wednesday, July 20th. HSBC raised Drax Group Plc to a “hold” rating in a research report on Friday, August 12th. JPMorgan Chase & Co. lifted their price objective on Drax Group Plc from GBX 350 ($4.33) to GBX 370 ($4.58) and gave the company a “neutral” rating in a research report on Thursday, July 28th. BNP Paribas cut Drax Group Plc to a “neutral” rating and set a GBX 340 ($4.21) price objective on the stock. in a research report on Wednesday, July 27th. Finally, Citigroup Inc. raised Drax Group Plc to a “neutral” rating and set a GBX 305 ($3.77) price objective on the stock in a research report on Wednesday, August 24th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of GBX 289.44 ($3.58).
Shares of Drax Group Plc (LON:DRX) opened at 314.10 on Monday. Drax Group Plc has a 52 week low of GBX 205.10 and a 52 week high of GBX 363.90. The firm has a 50-day moving average price of GBX 307.83 and a 200 day moving average price of GBX 312.04. The stock’s market cap is GBX 1.28 billion.
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The company also recently disclosed a dividend, which was paid on Friday, October 7th. Shareholders of record on Thursday, September 22nd were paid a GBX 2.10 ($0.03) dividend. This is an increase from Drax Group Plc’s previous dividend of $0.60. The ex-dividend date was Thursday, September 22nd. This represents a yield of 0.61%.
About Drax Group Plc
Drax Group Plc is engaged in the electricity generation; electricity supply to business customers, and manufacturing of sustainable compressed wood pellets for use in electricity production. The Company operates through three segments: Generation, which is engaged in the generation of electricity at Drax Power Station; Biomass Supply, which is engaged in the production of sustainable compressed wood pellets at its processing facilities in the United States, and Retail, which is engaged in the supply of power to business customers and wood pellets to the domestic heat market.
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