Drax Group plc (OTCMKTS:DRXGF) Receives Average Rating of “Buy” from Brokerages

Drax Group plc (OTCMKTS:DRXGF – Get Rating) has been given an average rating of “Hold” by the six analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $1,050.00.

DRXGF has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Drax Group from GBX 700 ($8.77) to GBX 950 ($11.90) in a research note on Thursday, April 28th. Royal Bank of Canada raised their price objective on shares of Drax Group from GBX 925 ($11.59) to GBX 1,150 ($14.41) in a research note on Tuesday, May 3rd. Finally, Citigroup downgraded shares of Drax Group from a “neutral” rating to a “sell” rating in a research note on Tuesday, May 24th.

DRXGF opened at $8.74 on Friday. Drax Group has a 12 month low of $5.55 and a 12 month high of $11.10. The stock has a 50-day moving average of $9.69 and a 200 day moving average of $8.69.

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.

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