Drax Group (LON:DRX)‘s stock had its “overweight” rating reissued by stock analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Thursday. They currently have a GBX 380 ($5.15) price target on the stock. JPMorgan Chase & Co.’s target price indicates a potential upside of 34.75% from the company’s current price.
A number of other equities research analysts have also weighed in on DRX. Credit Suisse Group reaffirmed an “outperform” rating and issued a GBX 400 ($5.42) price objective on shares of Drax Group in a report on Friday, September 22nd. Macquarie reaffirmed a “neutral” rating and issued a GBX 370 ($5.02) price objective on shares of Drax Group in a report on Thursday, October 26th. Deutsche Bank reaffirmed a “hold” rating on shares of Drax Group in a report on Friday, October 27th. Citigroup reaffirmed a “neutral” rating and issued a GBX 310 ($4.20) price objective on shares of Drax Group in a report on Friday, November 17th. Finally, HSBC lowered their price objective on Drax Group from GBX 360 ($4.88) to GBX 290 ($3.93) and set a “hold” rating on the stock in a report on Monday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Drax Group currently has an average rating of “Hold” and a consensus price target of GBX 368.21 ($4.99).
Shares of Drax Group (LON DRX) traded down GBX 4 ($0.05) on Thursday, reaching GBX 282 ($3.82). The company’s stock had a trading volume of 655,057 shares, compared to its average volume of 782,384. Drax Group has a 12 month low of GBX 252.20 ($3.42) and a 12 month high of GBX 393.20 ($5.33). The stock has a market cap of $1,160.00 and a price-to-earnings ratio of -4,700.00.
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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