Today The Drax Group Plc (DRX) Downgraded by S&P Global Inc. to “Buy”

Today The Drax Group Plc (DRX) Downgraded by S&P Global Inc. to “Buy”

S&P Global Inc. lowered shares of Drax Group Plc (LON:DRX) to a buy rating in a research report report published on Tuesday morning. They currently have GBX 430 ($5.37) price target on the stock, up from their prior price target of GBX 380 ($4.74).

Several other analysts have also issued reports on DRX. Royal Bank Of Canada reissued an underperform rating and set a GBX 280 ($3.49) target price on shares of Drax Group Plc in a report on Tuesday, October 4th. Credit Suisse Group increased their target price on Drax Group Plc from GBX 415 ($5.18) to GBX 425 ($5.30) and gave the stock an outperform rating in a report on Monday, October 17th. Barclays PLC reissued an overweight rating and set a GBX 320 ($3.99) target price on shares of Drax Group Plc in a report on Thursday, November 24th. BNP Paribas reissued a neutral rating and set a GBX 340 ($4.24) target price on shares of Drax Group Plc in a report on Tuesday, November 29th. Finally, Deutsche Bank AG restated a hold rating and set a GBX 300 ($3.74) price objective on shares of Drax Group Plc in a research report on Wednesday, December 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Drax Group Plc has a consensus rating of Hold and a consensus price target of GBX 342.06 ($4.27).

Drax Group Plc (LON:DRX) traded up 1.18% during trading on Tuesday, hitting GBX 384.90. The stock had a trading volume of 638,206 shares. The company’s market cap is GBX 1.57 billion. Drax Group Plc has a 52 week low of GBX 211.30 and a 52 week high of GBX 393.20. The company has a 50-day moving average of GBX 357.58 and a 200 day moving average of GBX 324.94.

About Drax Group Plc

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 operates through three segments: 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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