Drax Group (LON:DRX)‘s stock had its “outperform” rating reaffirmed by equities researchers at BNP Paribas in a research report issued on Monday, American Banking News.com reports. They currently have a GBX 950 ($15.66) price objective on the stock. BNP Paribas’ price target indicates a potential upside of 15.85% from the stock’s previous close.
A number of other firms have also recently commented on DRX. Analysts at AlphaValue upgraded shares of Drax Group to an “add” rating in a research note to investors on Thursday, December 19th. They now have a GBX 837 ($13.79) price target on the stock, up previously from GBX 836.70 ($13.79). Separately, analysts at Deutsche Bank raised their price target on shares of Drax Group from GBX 770 ($12.69) to GBX 850 ($14.01) in a research note to investors on Monday, December 16th. They now have a “buy” rating on the stock. Finally, analysts at Citigroup Inc. downgraded shares of Drax Group to a “neutral” rating in a research note to investors on Friday, December 13th. They now have a GBX 800 ($13.18) price target on the stock, up previously from GBX 725 ($11.95). One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of GBX 795.59 ($13.11).
Drax Group plc is the holding company of the Drax group of companies. The Company is engaged in the generation and sale of electricity and by-products of the electricity generation process at Drax Power Station, Selby, North Yorkshire and the sale of electricity to business customers by Haven Power Limited (LON:DRX).
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