Drax Group’s (DRX) Hold Rating Reaffirmed at Deutsche Bank

Drax Group (LON:DRX)‘s stock had its “hold” rating reissued by Deutsche Bank in a research note issued on Friday, January 12th. They presently have a GBX 300 ($4.21) price objective on the stock. Deutsche Bank’s price target would suggest a potential upside of 24.28% from the stock’s previous close.

DRX has been the subject of several other reports. HSBC decreased their price objective on shares of Drax Group from GBX 360 ($5.05) to GBX 290 ($4.07) and set a “hold” rating for the company in a research note on Monday, December 4th. Credit Suisse Group decreased their price objective on shares of Drax Group from GBX 370 ($5.19) to GBX 350 ($4.91) and set an “outperform” rating for the company in a research note on Thursday, December 21st. JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 380 ($5.33) price objective on shares of Drax Group in a research note on Wednesday, December 13th. Citigroup restated a “neutral” rating and set a GBX 310 ($4.35) price objective on shares of Drax Group in a research note on Friday, November 17th. Finally, Macquarie restated a “neutral” rating and set a GBX 370 ($5.19) price objective on shares of Drax Group in a research note on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of GBX 363.46 ($5.10).

Shares of Drax Group (DRX) traded down GBX 3.80 ($0.05) during midday trading on Friday, reaching GBX 241.40 ($3.38). 592,343 shares of the company’s stock traded hands, compared to its average volume of 559,490. Drax Group has a twelve month low of GBX 240 ($3.37) and a twelve month high of GBX 388.60 ($5.45). The firm has a market cap of $990.72 and a PE ratio of -4,023.33.

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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.

Analyst Recommendations for Drax Group (LON:DRX)

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