Drax Group (LON:DRX)‘s stock had its “overweight” rating restated by J P Morgan Chase & Co in a research note issued on Wednesday. They presently have a GBX 380 ($5.11) price objective on the stock. J P Morgan Chase & Co’s price target points to a potential upside of 39.91% from the stock’s current price.
DRX has been the topic of several other research reports. Deutsche Bank lowered their target price on shares of Drax Group from GBX 310 ($4.17) to GBX 300 ($4.04) and set a “hold” rating on the stock in a research note on Wednesday, December 6th. HSBC lowered their target price on shares of Drax Group from GBX 360 ($4.85) to GBX 290 ($3.90) and set a “hold” rating on the stock in a research note on Monday, December 4th. Citigroup reaffirmed a “neutral” rating and set a GBX 310 ($4.17) target price on shares of Drax Group in a research note on Friday, November 17th. Macquarie reaffirmed a “neutral” rating and set a GBX 370 ($4.98) target price on shares of Drax Group in a research note on Thursday, October 26th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a GBX 400 ($5.38) target price on shares of Drax Group in a research note on Friday, September 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of GBX 374.67 ($5.04).
Drax Group (LON DRX) traded up GBX 6.40 ($0.09) during trading on Wednesday, reaching GBX 271.60 ($3.66). 1,464,454 shares of the company were exchanged, compared to its average volume of 898,472. Drax Group has a 1 year low of GBX 253.50 ($3.41) and a 1 year high of GBX 393.20 ($5.29).
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About Drax Group
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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