Jefferies Financial Group Forecasts Strong Price Appreciation for Drax Group (LON:DRX) Stock

Drax Group (LON:DRX) had its target price hoisted by equities research analysts at Jefferies Financial Group from GBX 750 to GBX 1,120 in a report released on Wednesday,Digital Look reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 25.91% from the company’s current price.

Several other research firms have also recently commented on DRX. Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 950 price target on shares of Drax Group in a report on Wednesday, November 5th. Citigroup raised Drax Group to a “buy” rating and raised their target price for the company from GBX 689 to GBX 850 in a report on Wednesday, December 3rd. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of GBX 980.

Drax Group Stock Performance

Shares of Drax Group stock traded up GBX 9 on Wednesday, reaching GBX 889.50. 218,311,953 shares of the stock were exchanged, compared to its average volume of 48,192,293. Drax Group has a 1-year low of GBX 534.50 and a 1-year high of GBX 902. The business has a fifty day moving average price of GBX 773.70 and a two-hundred day moving average price of GBX 719.30. The firm has a market capitalization of £3.03 billion, a PE ratio of 8.26, a PEG ratio of 0.10 and a beta of 1.22. The company has a current ratio of 1.26, a quick ratio of 0.32 and a debt-to-equity ratio of 64.11.

Drax Group Company Profile

Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. It operates through three segments: Pellet Production, Generation, and Customers. The Pellet Production segment produces and sells biomass pellets. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid. The Customers segment supplies electricity and gas to non-domestic customers. The company owns and operates Drax Power Station located in Selby, North Yorkshire; Cruachan Power Station, a pumped storage hydro station, with an installed capacity of 440 megawatts (MW) located in Argyll and Bute; and Lanark and Galloway hydro-electric power stations with an installed capacity of 126 MW located in southwest Scotland.