Drax Group Plc’s (DRX) Outperform Rating Reaffirmed at Credit Suisse Group
Several other brokerages have also recently commented on DRX. Citigroup Inc. reaffirmed a buy rating and set a GBX 391 ($4.98) price objective on shares of Drax Group Plc in a research note on Tuesday, June 13th. Deutsche Bank AG reaffirmed a hold rating and set a GBX 310 ($3.95) price objective on shares of Drax Group Plc in a research note on Monday, June 12th. Barclays PLC boosted their price objective on shares of Drax Group Plc from GBX 410 ($5.22) to GBX 420 ($5.35) and gave the company an overweight rating in a research note on Monday, June 12th. Morgan Stanley cut shares of Drax Group Plc to an underweight rating and boosted their price objective for the company from GBX 310 ($3.95) to GBX 325 ($4.14) in a research note on Friday, February 24th. Finally, J P Morgan Chase & Co reaffirmed an overweight rating on shares of Drax Group Plc in a research note on Monday, February 20th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of GBX 380.79 ($4.85).
Shares of Drax Group Plc (LON DRX) traded down 1.35% during mid-day trading on Monday, hitting GBX 329.90. 475,114 shares of the stock were exchanged. The stock’s market capitalization is GBX 1.34 billion. The stock’s 50-day moving average is GBX 336.50 and its 200-day moving average is GBX 343.19. Drax Group Plc has a 52 week low of GBX 273.10 and a 52 week high of GBX 393.20.
About Drax Group Plc
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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