Stock Rating Runner: Barclays Capital Reiterates Drax Group PLC (LON:DRX) As Overweight; Has Price Target Of GBX 325.00

November 25, 2016 - By Richard Conner

Drax Group PLC (LON:DRX) Rating

In a research report revealed to clients and investors on today, Barclays Capital reconfirmed their Overweight rating on Drax Group PLC (LON:DRX)‘s stock. The TP means a potential upside of 16.09% from firm’s previous stock close.

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 78.93% above today’s (GBX 279.47) stock price. Drax Group PLC has been the topic of 112 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Thursday, March 3 by Investec. On Thursday, December 3 the stock rating was maintained by AlphaValue with “Buy”. The company was downgraded on Tuesday, April 26 by Deutsche Bank. On Thursday, January 21 the stock rating was maintained by Macquarie Research with “Neutral”. RBC Capital Markets maintained the shares of DRX in a report on Tuesday, November 24 with “Underperform” rating. Morgan Stanley maintained the shares of DRX in a report on Thursday, July 23 with “Equalwt/Cautious” rating. On Thursday, August 20 the stock rating was downgraded by RBC Capital Markets to “Underperform”. As per Tuesday, February 23, the company rating was maintained by Morgan Stanley. The stock has “Overweight” rating given by Barclays Capital on Friday, August 19. RBC Capital Markets maintained it with “Underperform” rating and GBX 180 target price in Friday, December 11 report.

About 52,471 shares traded hands. Drax Group Plc (LON:DRX) has declined 15.05% since April 27, 2016 and is downtrending. It has underperformed by 20.46% 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 6.88 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.

Another recent and important Drax Group Plc (LON:DRX) news was published by Bloomberg.com which published an article titled: “Drax Piles Into Hinkley Debate With Biomass Conversion Offer” on August 25, 2016.

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