Citigroup Raises Drax Group (LON:DRX) Price Target to GBX 923

Drax Group (LON:DRX) had its target price raised by stock analysts at Citigroup from GBX 850 to GBX 923 in a report issued on Thursday,London Stock Exchange reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 8.46% from the company’s previous close.

Several other equities analysts have also recently weighed in on DRX. Jefferies Financial Group lifted their target price on Drax Group from GBX 750 to GBX 1,120 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Royal Bank Of Canada restated an “outperform” rating and set a GBX 950 price target on shares of Drax Group in a report on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Drax Group currently has a consensus rating of “Buy” and a consensus target price of GBX 998.25.

Drax Group Stock Performance

Shares of Drax Group stock opened at GBX 851 on Thursday. Drax Group has a 12 month low of GBX 534.50 and a 12 month high of GBX 918. The company has a quick ratio of 0.32, a current ratio of 1.26 and a debt-to-equity ratio of 64.11. The stock has a market cap of £2.89 billion, a PE ratio of 7.90, a price-to-earnings-growth ratio of 0.10 and a beta of 1.22. The business has a fifty day simple moving average of GBX 860.07 and a 200-day simple moving average of GBX 757.77.

About Drax Group

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. The Customers segment supplies electricity and gas to non-domestic customers. The company owns and operates Drax Power Station located in Selby, North Yorkshire; Cruachan Power Station, a pumped storage hydro station, with an installed capacity of 440 megawatts (MW) located in Argyll and Bute; and Lanark and Galloway hydro-electric power stations with an installed capacity of 126 MW located in southwest Scotland.