Drax Group (LON:DRX) Upgraded to Buy at Citigroup

Citigroup upgraded shares of Drax Group (LON:DRX) to a buy rating in a report released on Wednesday, MarketBeat.com reports. The firm currently has GBX 850 target price on the stock, up from their previous target price of GBX 689.

Separately, Royal Bank Of Canada restated an “outperform” rating and set a GBX 950 price target on shares of Drax Group in a report on Wednesday, November 5th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of GBX 933.33.

Drax Group Price Performance

Shares of DRX opened at GBX 759.94 on Wednesday. The company has a debt-to-equity ratio of 64.11, a quick ratio of 0.32 and a current ratio of 1.26. The firm has a market cap of £2.61 billion, a PE ratio of 7.06, a PEG ratio of 0.10 and a beta of 1.22. The firm’s 50 day moving average price is GBX 720.30 and its 200 day moving average price is GBX 690.58. Drax Group has a twelve month low of GBX 534.50 and a twelve month high of GBX 770.50.

About Drax Group

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