HSBC Trims Drax Group (DRX) Target Price to GBX 290

Drax Group (LON:DRX) had its target price cut by HSBC from GBX 360 ($4.85) to GBX 290 ($3.90) in a research report report published on Monday morning. They currently have a hold rating on the stock.

Several other equities analysts have also recently issued reports on DRX. Deutsche Bank reissued a hold rating on shares of Drax Group in a research note on Friday, August 18th. Credit Suisse Group reissued an outperform rating and set a GBX 400 ($5.38) target price on shares of Drax Group in a research note on Friday, September 22nd. Macquarie reissued a neutral rating and set a GBX 370 ($4.98) target price on shares of Drax Group in a research note on Thursday, October 26th. Citigroup reissued a neutral rating and set a GBX 310 ($4.17) target price on shares of Drax Group in a research note on Friday, November 17th. Finally, J P Morgan Chase & Co reissued an overweight rating and set a GBX 390 ($5.25) target price on shares of Drax Group in a research note on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of GBX 374.67 ($5.04).

Drax Group (LON DRX) opened at GBX 255 ($3.43) on Monday. Drax Group has a 12 month low of GBX 256.40 ($3.45) and a 12 month high of GBX 393.20 ($5.29).

In other news, insider Andy Koss purchased 15,000 shares of Drax Group stock in a transaction that occurred on Tuesday, September 26th. The shares were bought at an average cost of GBX 307 ($4.13) per share, with a total value of £46,050 ($61,978.47).

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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.

Analyst Recommendations for Drax Group (LON:DRX)

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