Royal Bank of Canada Cuts Drax Group (LON:DRX) Price Target to GBX 370

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Drax Group (LON:DRX) had its price objective decreased by Royal Bank of Canada from GBX 420 ($5.52) to GBX 370 ($4.87) in a research report released on Wednesday morning, Digital Look reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other equities research analysts have also weighed in on DRX. Credit Suisse Group raised their price objective on Drax Group from GBX 315 ($4.14) to GBX 325 ($4.28) and gave the stock a neutral rating in a research note on Tuesday. Barclays raised Drax Group to an overweight rating and raised their price objective for the stock from GBX 333 ($4.38) to GBX 535 ($7.04) in a research note on Monday, February 3rd. Finally, HSBC raised Drax Group to a buy rating and raised their price objective for the stock from GBX 320 ($4.21) to GBX 360 ($4.74) in a research note on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of GBX 358.22 ($4.71).

DRX opened at GBX 287.40 ($3.78) on Wednesday. The firm has a market cap of $1.14 billion and a PE ratio of 41.06. The company has a quick ratio of 0.55, a current ratio of 1.30 and a debt-to-equity ratio of 64.30. The business has a fifty day simple moving average of GBX 292.11 and a 200-day simple moving average of GBX 290.42. Drax Group has a fifty-two week low of GBX 247.80 ($3.26) and a fifty-two week high of GBX 390.20 ($5.13).

Drax Group Company Profile

Drax Group plc, together with its subsidiaries, engages in the generation and supply of electricity. The company operates through three segments: Power Generation, Pellet Production, and B2B Energy Supply. It produces low carbon and renewable electricity; and provides system support services to the grid from a portfolio of biomass, hydro, gas, and coal technologies.

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Analyst Recommendations for Drax Group (LON:DRX)

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