Drax Group (OTCMKTS:DRXGF) Cut to Sell at Citigroup

Drax Group (OTCMKTS:DRXGF – Get Rating) was downgraded by stock analysts at Citigroup from a “neutral” rating to a “sell” rating in a research note issued on Tuesday, The Fly reports.

Several other equities analysts have also weighed in on DRXGF. Royal Bank of Canada boosted their target price on shares of Drax Group from GBX 925 ($11.64) to GBX 1,150 ($14.47) in a report on Tuesday, May 3rd. JPMorgan Chase & Co. boosted their price target on shares of Drax Group from GBX 700 ($8.81) to GBX 950 ($11.95) in a research note on Thursday, April 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $1,050.00.

OTCMKTS:DRXGF opened at $10.06 on Tuesday. The company’s 50-day moving average is $9.62 and its two-hundred day moving average is $8.56. Drax Group has a 1-year low of $5.55 and a 1-year high of $11.10.

About Drax Group (Get Rating)

Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. The company operates through three segments: Generation, Customers, and Pellet Production. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid.

Recommended Stories