Drax Group (LON:DRX) had its price target trimmed by Morgan Stanley from GBX 330 ($4.56) to GBX 300 ($4.14) in a research report report published on Wednesday. The brokerage currently has an equal weight rating on the stock.
Other research analysts have also issued reports about the company. Deutsche Bank cut their price objective on Drax Group from GBX 310 ($4.28) to GBX 300 ($4.14) and set a hold rating on the stock in a report on Wednesday, December 6th. HSBC cut their price objective on Drax Group from GBX 360 ($4.97) to GBX 290 ($4.01) and set a hold rating on the stock in a report on Monday, December 4th. Citigroup reissued a neutral rating and issued a GBX 310 ($4.28) price objective on shares of Drax Group in a report on Friday, November 17th. Credit Suisse Group cut their price objective on Drax Group from GBX 370 ($5.11) to GBX 350 ($4.84) and set an outperform rating on the stock in a report on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. reissued an overweight rating and issued a GBX 380 ($5.25) price objective on shares of Drax Group in a report on Thursday, January 18th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of GBX 359.23 ($4.96).
Shares of Drax Group (LON:DRX) traded up GBX 4 ($0.06) during mid-day trading on Wednesday, hitting GBX 252.60 ($3.49). The stock had a trading volume of 307,151 shares, compared to its average volume of 777,918. The firm has a market capitalization of $1,030.00 and a price-to-earnings ratio of -682.70. Drax Group has a fifty-two week low of GBX 218 ($3.01) and a fifty-two week high of GBX 368.70 ($5.09).
TRADEMARK VIOLATION WARNING: “Drax Group (DRX) PT Lowered to GBX 300” was originally published by Ticker Report and is the property of of Ticker Report. If you are viewing this news story on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The legal version of this news story can be accessed at https://www.tickerreport.com/banking-finance/3230362/drax-group-drx-pt-lowered-to-gbx-300.html.
Drax Group Company Profile
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.
Receive News & Ratings for Drax Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Drax Group and related companies with MarketBeat.com's FREE daily email newsletter.