Rating Change: Drax Group PLC (LON:DRX) Overweight Rating Reiterated at Barclays Capital; With GBX 320.00 Target

November 24, 2016 - By Hazel Jackson

Drax Group PLC (LON:DRX) Rating

They currently have a GBX 320.00 TP on Drax Group PLC (LON:DRX). Barclays Capital’s target would suggest a potential upside of 13.72% from the company’s last stock price. This was disclosed in analysts report on Thursday, 24 November.

Drax Group Plc (LON:DRX) Ratings Coverage

Out of 16 analysts covering Drax Group PLC (LON:DRX), 3 rate it a “Buy”, 5 “Sell”, while 8 “Hold”. This means 19% are positive. GBX 3600 is the highest target while GBX 180 is the lowest. The GBX 500.06 average target is 78.47% above today’s (GBX 280.2) stock price. Drax Group PLC has been the topic of 112 analyst reports since July 29, 2015 according to StockzIntelligence Inc. On Wednesday, November 25 the stock rating was maintained by Deutsche Bank with “Sell”. The rating was maintained by Goldman Sachs with “Sell” on Wednesday, November 25. The rating was maintained by Macquarie Research with “Outperform” on Thursday, October 1. On Wednesday, September 16 the stock rating was maintained by Goldman Sachs with “Sell”. The rating was maintained by Bernstein with “Market Perform” on Thursday, February 4. The firm has “Overweight” rating by Barclays Capital given on Thursday, November 24. The stock has “Neutral” rating given by JP Morgan on Friday, July 22. The stock of Drax Group Plc (LON:DRX) has “Hold” rating given on Friday, December 4 by Societe Generale. The firm earned “Outperform” rating on Wednesday, July 27 by Credit Suisse. The rating was downgraded by RBC Capital Markets to “Underperform” on Thursday, August 20.

About 50,082 shares traded hands. Drax Group Plc (LON:DRX) has declined 12.99% since April 26, 2016 and is downtrending. It has underperformed by 18.40% the S&P500.

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 has a market cap of 1.14 billion GBP. The Firm operates through three divisions: 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 clients and wood pellets to the domestic heat market. It has a 6.9 P/E ratio. It operates through over four business units, including Drax Biomass, which is a supplier of compressed wood pellets manufactured from sustainable sources; Drax Power, which generates electricity, and Supply activities delivered through three routes, such as Drax Power, Haven Power and Billington Bioenergy.

More news for Drax Group Plc (LON:DRX) were recently published by: Bloomberg.com, which released: “Drax Piles Into Hinkley Debate With Biomass Conversion Offer” on August 25, 2016. Fool.Co.Uk‘s article titled: “Is There Still Hope For Drax Group Plc And Gulf Keystone Petroleum Limited?” and published on December 18, 2015 is yet another important article.

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