November 29, 2016 - By Adrian Mccoy
Exane BNP Paribas have a GBX 340.00 PT on the stock. The PT indicates a potential upside of 21.30% from Drax Group PLC (LON:DRX)‘s last close price. This rating was disclosed in a research report on 29 November.
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 78.21% above today’s (GBX 280.6) stock price. Drax Group PLC has been the topic of 113 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The firm has “Reduce” rating given on Thursday, November 19 by HSBC. The rating was downgraded by Deutsche Bank on Tuesday, November 10 to “Sell”. HSBC maintained the shares of DRX in a report on Friday, November 27 with “Reduce” rating. The firm has “Overweight” rating given on Wednesday, March 2 by Barclays Capital. The rating was upgraded by AlphaValue on Wednesday, February 10 to “Reduce”. JP Morgan maintained Drax Group Plc (LON:DRX) on Wednesday, March 9 with “Neutral” rating. The rating was maintained by RBC Capital Markets with “Underperform” on Tuesday, February 9. Investec maintained the shares of DRX in a report on Thursday, March 3 with “Buy” rating. Societe Generale maintained the shares of DRX in a report on Wednesday, November 25 with “Hold” rating. The stock of Drax Group Plc (LON:DRX) earned “Sell” rating by Goldman Sachs on Friday, September 11.
About 98,015 shares traded hands. Drax Group Plc (LON:DRX) has declined 12.14% since April 29, 2016 and is downtrending. It has underperformed by 17.40% 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 recent Drax Group Plc (LON:DRX) news were published by: Bloomberg.com which released: “Drax Piles Into Hinkley Debate With Biomass Conversion Offer” on August 25, 2016. Also Fool.Co.Uk published the news titled: “Is There Still Hope For Drax Group Plc And Gulf Keystone Petroleum Limited?” on December 18, 2015. Fool.Co.Uk‘s news article titled: “What do today’s results mean for Drax Group plc, Croda International plc …” with publication date: July 26, 2016 was also an interesting one.
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By Adrian Mccoy