Drax Group Plc (DRX) Stock Rating Reaffirmed by Deutsche Bank AG
Drax Group Plc (LON:DRX)‘s stock had its “hold” rating reissued by equities research analysts at Deutsche Bank AG in a research note issued to investors on Friday.
A number of other analysts have also issued reports on DRX. Barclays PLC upgraded shares of Drax Group Plc to an “overweight” rating and boosted their price target for the stock from GBX 400 ($5.19) to GBX 410 ($5.32) in a research note on Friday, April 28th. Jefferies Group LLC upgraded shares of Drax Group Plc to a “buy” rating and boosted their price target for the stock from GBX 305 ($3.96) to GBX 400 ($5.19) in a research note on Tuesday, May 2nd. Citigroup Inc. restated a “buy” rating and set a GBX 391 ($5.08) target price on shares of Drax Group Plc in a research note on Tuesday, June 13th. J P Morgan Chase & Co restated an “overweight” rating and set a GBX 410 ($5.32) target price on shares of Drax Group Plc in a research note on Friday, June 16th. Finally, Credit Suisse Group restated an “outperform” rating and set a GBX 400 ($5.19) target price on shares of Drax Group Plc in a research note on Monday, June 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. Drax Group Plc has a consensus rating of “Buy” and a consensus target price of GBX 386.07 ($5.01).
Shares of Drax Group Plc (LON DRX) traded down 1.03% during midday trading on Friday, hitting GBX 318.00. 885,675 shares of the stock traded hands. The company’s 50 day moving average price is GBX 326.37 and its 200-day moving average price is GBX 334.65. Drax Group Plc has a 12-month low of GBX 273.10 and a 12-month high of GBX 393.20. The stock’s market cap is GBX 1.29 billion.
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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’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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