Drax Group (LON:DRX) had its price objective lowered by JPMorgan Chase & Co. from GBX 390 ($5.21) to GBX 380 ($5.08) in a research note released on Thursday, December 7th. JPMorgan Chase & Co. currently has an overweight rating on the stock.
Several other research analysts also recently weighed in on the stock. Deutsche Bank decreased their price target on shares of Drax Group from GBX 310 ($4.14) to GBX 300 ($4.01) and set a hold rating on the stock in a research report on Wednesday, December 6th. HSBC decreased their price target on shares of Drax Group from GBX 360 ($4.81) to GBX 290 ($3.88) and set a hold rating on the stock in a research report on Monday, December 4th. Citigroup reiterated a neutral rating and issued a GBX 310 ($4.14) price target on shares of Drax Group in a research report on Friday, November 17th. Macquarie restated a neutral rating and set a GBX 370 ($4.95) price objective on shares of Drax Group in a research report on Thursday, October 26th. Finally, Credit Suisse Group restated an outperform rating and set a GBX 400 ($5.35) price objective on shares of Drax Group in a research report on Friday, September 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of GBX 368.21 ($4.92).
Drax Group (LON DRX) traded up GBX 5 ($0.07) on Thursday, reaching GBX 270.60 ($3.62). 313,723 shares of the company’s stock traded hands, compared to its average volume of 961,504. Drax Group has a fifty-two week low of GBX 252.20 ($3.37) and a fifty-two week high of GBX 393.20 ($5.26). The company has a market capitalization of $1,080.00 and a P/E ratio of -4,510.00.
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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.
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