Drax Group Plc (LON:DRX) Stock Rating Reaffirmed by BNP Paribas
Drax Group Plc (LON:DRX)‘s stock had its “neutral” rating reaffirmed by BNP Paribas in a research note issued on Thursday. They presently have a GBX 400 ($5.22) price objective on the stock. BNP Paribas’ price objective points to a potential upside of 20.05% from the stock’s previous close.
A number of other research analysts also recently weighed in on DRX. Deutsche Bank AG restated a “hold” rating and issued a GBX 310 ($4.05) price target on shares of Drax Group Plc in a research note on Tuesday. J P Morgan Chase & Co restated an “overweight” rating and issued a GBX 400 ($5.22) price target on shares of Drax Group Plc in a research note on Tuesday. Citigroup Inc. downgraded Drax Group Plc to a “neutral” rating and decreased their price target for the company from GBX 391 ($5.11) to GBX 365 ($4.77) in a research note on Wednesday. Macquarie raised their price target on Drax Group Plc from GBX 350 ($4.57) to GBX 370 ($4.83) and gave the company a “neutral” rating in a research note on Tuesday, June 27th. Finally, Barclays PLC raised their price target on Drax Group Plc from GBX 410 ($5.35) to GBX 420 ($5.48) and gave the company an “overweight” rating in a research note on Monday, June 12th. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. Drax Group Plc currently has a consensus rating of “Hold” and an average target price of GBX 382.50 ($4.99).
Drax Group Plc (LON DRX) traded down 2.73% during midday trading on Thursday, reaching GBX 324.10. The company had a trading volume of 1,934,026 shares. Drax Group Plc has a 52-week low of GBX 273.10 and a 52-week high of GBX 393.20. The company’s market cap is GBX 1.32 billion. The company’s 50-day moving average is GBX 339.73 and its 200 day moving average is GBX 343.35.
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Drax Group Plc Company Profile
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’s segments include 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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