Drax Group (LON:DRX)‘s stock had its “underperform” rating reissued by research analysts at Credit Suisse Group in a research report issued on Friday. They presently have a GBX 325 ($4.25) price target on the stock, down from their prior price target of GBX 420 ($5.49). Credit Suisse Group’s price objective points to a potential downside of 12.45% from the company’s current price.
Other analysts have also recently issued reports about the company. HSBC upgraded Drax Group to a “buy” rating and reduced their price target for the stock from GBX 440 ($5.75) to GBX 430 ($5.62) in a report on Tuesday, December 4th. Morgan Stanley restated an “equal weight” rating on shares of Drax Group in a report on Thursday, December 13th. Deutsche Bank restated a “hold” rating on shares of Drax Group in a report on Wednesday, February 27th. Citigroup cut Drax Group to a “sell” rating and reduced their price target for the stock from GBX 373 ($4.87) to GBX 320 ($4.18) in a report on Friday, February 15th. Finally, Royal Bank of Canada reduced their price target on Drax Group from GBX 500 ($6.53) to GBX 460 ($6.01) and set a “top pick” rating on the stock in a report on Tuesday, February 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of GBX 382.83 ($5.00).
Shares of LON DRX opened at GBX 371.20 ($4.85) on Friday. The stock has a market cap of $1.46 billion and a price-to-earnings ratio of 75.76. The company has a debt-to-equity ratio of 34.34, a current ratio of 0.82 and a quick ratio of 0.44. Drax Group has a 12 month low of GBX 263.60 ($3.44) and a 12 month high of GBX 432.40 ($5.65).
About Drax Group
Drax Group plc, together with its subsidiaries, engages in the generation and supply of electricity in the United Kingdom. It operates through three segments: Power Generation, Pellet Production, and B2B Energy Supply. The company owns and operates Drax Power Station that produces electricity from biomass located in Selby, North Yorkshire; and develops open-cycle gas turbine projects.
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