Drax Group Plc (LON:DRX) had its target price boosted by analysts at Credit Suisse Group AG from GBX 415 ($5.06) to GBX 425 ($5.18) in a research note issued on Monday. The brokerage currently has an “outperform” rating on the stock. Credit Suisse Group AG’s target price suggests a potential upside of 30.17% from the company’s current price.
DRX has been the subject of several other reports. Deutsche Bank AG reissued a “hold” rating and issued a GBX 250 ($3.05) price objective on shares of Drax Group Plc in a research report on Wednesday, July 20th. Barclays PLC reissued an “overweight” rating on shares of Drax Group Plc in a research report on Friday, August 19th. Jefferies Group lowered Drax Group Plc to an “underperform” rating and lifted their price objective for the stock from GBX 210 ($2.56) to GBX 240 ($2.93) in a research report on Thursday, September 22nd. Royal Bank Of Canada reissued an “underperform” rating and issued a GBX 280 ($3.41) price objective on shares of Drax Group Plc in a research report on Tuesday, October 4th. Finally, JPMorgan Chase & Co. lifted their price objective on Drax Group Plc from GBX 260 ($3.17) to GBX 350 ($4.27) and gave the stock a “neutral” rating in a research report on Friday, July 22nd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of GBX 289.44 ($3.53).
Drax Group Plc (LON:DRX) opened at 325.30 on Monday. The firm’s market capitalization is GBX 1.32 billion. The company’s 50-day moving average price is GBX 308.70 and its 200 day moving average price is GBX 313.39. Drax Group Plc has a 12 month low of GBX 205.10 and a 12 month high of GBX 363.90.
The business also recently disclosed a dividend, which was paid on Friday, October 7th. Shareholders of record on Thursday, September 22nd were issued a dividend of GBX 2.10 ($0.03) per share. This is a positive change from Drax Group Plc’s previous dividend of $0.60. This represents a yield of 0.61%. The ex-dividend date was Thursday, September 22nd.
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 operates through three segments: 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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