Drax Group Plc (LON:DRX) Rating Reiterated by J P Morgan Chase & Co
Drax Group Plc (LON:DRX)‘s stock had its “overweight” rating reiterated by J P Morgan Chase & Co in a research note issued to investors on Tuesday. They presently have a GBX 400 ($5.22) price objective on the stock. J P Morgan Chase & Co’s price target indicates a potential upside of 15.31% from the stock’s current price.
A number of other equities research analysts also recently issued reports on the company. Macquarie boosted their price target on Drax Group Plc from GBX 350 ($4.57) to GBX 370 ($4.83) and gave the company a “neutral” rating in a research note on Tuesday, June 27th. Barclays PLC boosted their price target on Drax Group Plc from GBX 410 ($5.35) to GBX 420 ($5.48) and gave the company an “overweight” rating in a research note on Monday, June 12th. Citigroup Inc. restated a “buy” rating and set a GBX 391 ($5.11) price target on shares of Drax Group Plc in a research note on Tuesday, June 13th. Investec restated a “buy” rating and set a GBX 420 ($5.48) price target on shares of Drax Group Plc in a research note on Friday, June 23rd. Finally, HSBC Holdings plc boosted their price target on Drax Group Plc from GBX 340 ($4.44) to GBX 360 ($4.70) and gave the company a “hold” rating in a research note on Thursday, June 29th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of GBX 384.36 ($5.02).
Shares of Drax Group Plc (LON DRX) opened at 344.70 on Tuesday. The stock’s market capitalization is GBX 1.40 billion. The firm’s 50-day moving average is GBX 338.72 and its 200 day moving average is GBX 344.89. Drax Group Plc has a 12-month low of GBX 273.10 and a 12-month 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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