Drax Group (LON:DRX) Raised to Buy at Citigroup

Drax Group (LON:DRX) was upgraded by equities research analysts at Citigroup to a “buy” rating in a note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage presently has a GBX 850 price target on the stock, up from their prior price target of GBX 689. Citigroup’s price objective suggests a potential upside of 10.75% from the company’s current price.

Separately, Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 950 price objective on shares of Drax Group in a research note on Wednesday, November 5th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of GBX 933.33.

Drax Group Price Performance

DRX stock opened at GBX 767.47 on Wednesday. The stock’s 50 day moving average price is GBX 722.08 and its 200 day moving average price is GBX 691.12. The firm has a market cap of £2.63 billion, a P/E ratio of 7.13, a PEG ratio of 0.10 and a beta of 1.22. The company has a debt-to-equity ratio of 64.11, a quick ratio of 0.32 and a current ratio of 1.26. Drax Group has a 1 year low of GBX 534.50 and a 1 year high of GBX 778.50.

Drax Group Company Profile

Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. It operates through three segments: Pellet Production, Generation, and Customers. The Pellet Production segment produces and sells biomass pellets. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid.