Drax Group (DRX) Receives “Overweight” Rating from J P Morgan Chase & Co
J P Morgan Chase & Co reissued their overweight rating on shares of Drax Group (LON:DRX) in a research note released on Tuesday morning. J P Morgan Chase & Co currently has a GBX 390 ($5.20) price objective on the stock.
DRX has been the topic of several other reports. Credit Suisse Group restated an outperform rating and set a GBX 400 ($5.33) target price on shares of Drax Group in a research note on Friday, September 22nd. Deutsche Bank restated a hold rating on shares of Drax Group in a research note on Friday, October 27th. Macquarie reiterated a neutral rating and set a GBX 370 ($4.93) price target on shares of Drax Group in a research note on Thursday, October 26th. Finally, Citigroup reiterated a neutral rating and set a GBX 310 ($4.13) price target on shares of Drax Group in a research note on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. The company has an average rating of Buy and a consensus target price of GBX 382.14 ($5.09).
Drax Group (LON DRX) opened at GBX 271.69 ($3.62) on Tuesday. Drax Group has a fifty-two week low of GBX 265.60 ($3.54) and a fifty-two week high of GBX 393.20 ($5.24).
In related news, insider Andy Koss acquired 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was acquired at an average price of GBX 307 ($4.09) per share, with a total value of £46,050 ($61,391.81).
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About Drax Group
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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