Drax Group’s (DRX) “Neutral” Rating Reiterated at Citigroup
Drax Group (LON:DRX)‘s stock had its “neutral” rating reaffirmed by Citigroup in a note issued to investors on Tuesday. They currently have a GBX 373 ($4.86) target price on the stock. Citigroup’s price target indicates a potential downside of 0.05% from the stock’s current price.
Several other equities analysts also recently commented on DRX. Royal Bank of Canada raised shares of Drax Group to a “top pick” rating in a report on Monday, July 9th. Deutsche Bank reissued a “hold” rating on shares of Drax Group in a report on Wednesday, July 11th. Credit Suisse Group boosted their target price on shares of Drax Group from GBX 350 ($4.56) to GBX 410 ($5.34) and gave the stock an “outperform” rating in a report on Thursday, July 26th. AlphaValue raised shares of Drax Group to an “add” rating in a report on Thursday, July 26th. Finally, HSBC boosted their target price on shares of Drax Group from GBX 290 ($3.78) to GBX 420 ($5.47) and gave the stock a “hold” rating in a report on Thursday, September 6th. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Drax Group presently has an average rating of “Buy” and a consensus price target of GBX 380.33 ($4.95).
Shares of DRX stock traded up GBX 12.20 ($0.16) during mid-day trading on Tuesday, hitting GBX 373.20 ($4.86). The company had a trading volume of 1,641,922 shares, compared to its average volume of 1,090,000. Drax Group has a 52-week low of GBX 218 ($2.84) and a 52-week high of GBX 368.70 ($4.80).
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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