Drax Group (DRX) Price Target Lowered to GBX 290 at HSBC

Drax Group (LON:DRX) had its price target cut by HSBC from GBX 360 ($4.85) to GBX 290 ($3.90) in a research report report published on Monday. They currently have a hold rating on the stock.

Several other equities research analysts also recently weighed in on the stock. J P Morgan Chase & Co reaffirmed an overweight rating and set a GBX 390 ($5.25) target price on shares of Drax Group in a research note on Tuesday, November 28th. Deutsche Bank restated a hold rating on shares of Drax Group in a report on Friday, August 18th. Credit Suisse Group reiterated an outperform rating and set a GBX 400 ($5.38) price target on shares of Drax Group in a research note on Friday, September 22nd. Citigroup reiterated a neutral rating and set a GBX 310 ($4.17) price target on shares of Drax Group in a research note on Friday, November 17th. Finally, Macquarie restated a neutral rating and issued a GBX 370 ($4.98) target price on shares of Drax Group in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of GBX 376 ($5.06).

Drax Group (DRX) traded up GBX 0.22 ($0.00) during trading hours on Monday, reaching GBX 264.22 ($3.56). 1,020,000 shares of the company’s stock traded hands, compared to its average volume of 900,812. Drax Group has a 12 month low of GBX 257.20 ($3.46) and a 12 month high of GBX 393.20 ($5.29).

In other news, insider Andy Koss acquired 15,000 shares of the company’s stock in a transaction dated Tuesday, September 26th. The shares were bought at an average price of GBX 307 ($4.13) per share, for a total transaction of £46,050 ($61,978.47).

ILLEGAL ACTIVITY WARNING: “Drax Group (DRX) Price Target Lowered to GBX 290 at HSBC” was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this story on another website, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this story can be viewed at https://www.dispatchtribunal.com/2017/12/05/drax-group-drx-price-target-lowered-to-gbx-290-at-hsbc.html.

Drax Group Company Profile

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.

Analyst Recommendations for Drax Group (LON:DRX)

Receive News & Ratings for Drax Group plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Drax Group plc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply