Deutsche Bank Reaffirms “Hold” Rating for Drax Group (DRX)

Drax Group (LON:DRX)‘s stock had its “hold” rating reaffirmed by analysts at Deutsche Bank in a research report issued on Friday. They currently have a GBX 300 ($4.07) price target on the stock. Deutsche Bank’s price target points to a potential upside of 7.53% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Credit Suisse Group lowered their target price on shares of Drax Group from GBX 370 ($5.02) to GBX 350 ($4.75) and set an “outperform” rating for the company in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a GBX 380 ($5.15) target price on shares of Drax Group in a research note on Wednesday, December 13th. HSBC lowered their target price on shares of Drax Group from GBX 360 ($4.88) to GBX 290 ($3.93) and set a “hold” rating for the company in a research note on Monday, December 4th. Citigroup reiterated a “neutral” rating and issued a GBX 310 ($4.20) target price on shares of Drax Group in a research note on Friday, November 17th. Finally, Macquarie reiterated a “neutral” rating and issued a GBX 370 ($5.02) target price on shares of Drax Group in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of GBX 368.21 ($4.99).

Drax Group (LON:DRX) traded down GBX 4.80 ($0.07) during mid-day trading on Friday, reaching GBX 279 ($3.78). 776,130 shares of the company were exchanged, compared to its average volume of 844,698. The firm has a market cap of $1,140.00 and a PE ratio of -4,650.00. Drax Group has a one year low of GBX 252.20 ($3.42) and a one year high of GBX 393.20 ($5.33).

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Drax Group 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.

Analyst Recommendations for Drax Group (LON:DRX)

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