Drax Group (LON:DRX) had its target price hoisted by analysts at Credit Suisse Group from GBX 410 ($5.36) to GBX 420 ($5.49) in a note issued to investors on Wednesday. The firm presently has an “outperform” rating on the stock. Credit Suisse Group’s price objective indicates a potential upside of 1.16% from the company’s current price.
Other analysts have also issued research reports about the stock. AlphaValue raised shares of Drax Group to an “add” rating in a research report on Thursday, July 26th. Morgan Stanley reissued an “equal weight” rating and issued a GBX 380 ($4.97) price target on shares of Drax Group in a research report on Monday, September 10th. HSBC boosted their price target on shares of Drax Group from GBX 290 ($3.79) to GBX 420 ($5.49) and gave the company a “hold” rating in a research report on Thursday, September 6th. Deutsche Bank reissued a “hold” rating on shares of Drax Group in a research report on Wednesday, July 11th. Finally, Citigroup reissued a “neutral” rating and issued a GBX 373 ($4.87) price target on shares of Drax Group in a research report on Tuesday, September 25th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of GBX 395.89 ($5.17).
Shares of DRX stock opened at GBX 415.20 ($5.43) on Wednesday. Drax Group has a 52 week low of GBX 218 ($2.85) and a 52 week high of GBX 368.70 ($4.82).
Drax Group Company Profile
Drax Group plc, together with its subsidiaries, engages in the generation and supply of electricity in the United Kingdom. It operates through three segments: Power Generation, Pellet Production, and B2B Energy Supply. The company owns and operates Drax Power Station that produces electricity from biomass located in Selby, North Yorkshire; and develops open-cycle gas turbine projects.
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