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

Drax Group (LON:DRX) had its price target increased by Citigroup from GBX 850 to GBX 923 in a research report sent to investors on Thursday,London Stock Exchange reports. Citigroup currently has a buy rating on the stock.

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

Drax Group Trading Down 2.4%

Drax Group stock opened at GBX 851 on Thursday. The company has a debt-to-equity ratio of 64.11, a current ratio of 1.26 and a quick ratio of 0.32. Drax Group has a one year low of GBX 534.50 and a one year high of GBX 918. The firm has a 50-day moving average of GBX 860.07 and a 200-day moving average of GBX 758.27. The company has a market cap of £2.89 billion, a price-to-earnings ratio of 7.90, a P/E/G ratio of 0.10 and a beta of 1.22.

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.