Analysts Set Drax Group Plc (DRX) Price Target at $380.79

Shares of Drax Group Plc (LON:DRX) have been assigned an average recommendation of “Hold” from the fourteen analysts that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is GBX 382.21 ($4.87).

Several brokerages have recently issued reports on DRX. Deutsche Bank AG restated a “hold” rating and issued a GBX 310 ($3.95) price objective on shares of Drax Group Plc in a research note on Monday, June 12th. Jefferies Group LLC upgraded shares of Drax Group Plc to a “buy” rating and raised their price objective for the stock from GBX 305 ($3.89) to GBX 400 ($5.10) in a research note on Tuesday, May 2nd. Credit Suisse Group restated an “outperform” rating and issued a GBX 400 ($5.10) price objective on shares of Drax Group Plc in a research note on Monday, June 19th. Barclays PLC upgraded shares of Drax Group Plc to an “overweight” rating and raised their price objective for the stock from GBX 400 ($5.10) to GBX 410 ($5.22) in a research note on Friday, April 28th. Finally, HSBC Holdings plc lowered their price objective on shares of Drax Group Plc from GBX 410 ($5.22) to GBX 340 ($4.33) and set a “hold” rating on the stock in a research note on Wednesday, March 29th.

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Drax Group Plc (LON DRX) traded up 2.55% during mid-day trading on Monday, reaching GBX 338.20. 686,711 shares of the company traded hands. Drax Group Plc has a 52-week low of GBX 273.10 and a 52-week high of GBX 393.20. The company’s market capitalization is GBX 1.37 billion. The stock has a 50 day moving average price of GBX 336.25 and a 200-day moving average price of GBX 343.91.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “LSE:DRX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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