Credit Suisse Group Cuts Drax Group (DRX) Price Target to GBX 350

Drax Group (LON:DRX) had its price objective trimmed by Credit Suisse Group from GBX 370 ($4.95) to GBX 350 ($4.68) in a research note released on Tuesday morning. The brokerage currently has an outperform rating on the stock.

Other analysts have also recently issued research reports about the stock. Deutsche Bank cut their price target on shares of Drax Group from GBX 310 ($4.14) to GBX 300 ($4.01) and set a hold rating on the stock in a research report on Wednesday, December 6th. Citigroup reiterated a neutral rating and set a GBX 310 ($4.14) price objective on shares of Drax Group in a report on Friday, November 17th. HSBC dropped their price objective on shares of Drax Group from GBX 360 ($4.81) to GBX 290 ($3.88) and set a hold rating on the stock in a report on Monday, December 4th. JPMorgan Chase & Co. dropped their price objective on shares of Drax Group from GBX 390 ($5.21) to GBX 380 ($5.08) and set an overweight rating on the stock in a report on Thursday, December 7th. Finally, Macquarie reiterated a neutral rating and set a GBX 370 ($4.95) price objective on shares of Drax Group in a report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Drax Group has a consensus rating of Hold and an average price target of GBX 368.21 ($4.92).

Shares of Drax Group (LON DRX) opened at GBX 278.60 ($3.73) on Tuesday. The company has a market cap of $1,130.00 and a price-to-earnings ratio of -4,643.33. Drax Group has a 1 year low of GBX 252.20 ($3.37) and a 1 year high of GBX 393.20 ($5.26).

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About Drax Group

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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