Drax Group (LON:DRX) Given New GBX 923 Price Target at Citigroup

Drax Group (LON:DRX) had its price target raised by Citigroup from GBX 850 to GBX 923 in a report released on Thursday,London Stock Exchange reports. Citigroup currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on DRX. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 950 price objective on shares of Drax Group in a research note on Wednesday, November 5th. Jefferies Financial Group increased their price target on shares of Drax Group from GBX 750 to GBX 1,120 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of GBX 998.25.

Drax Group Stock Performance

Shares of LON DRX opened at GBX 870.50 on Thursday. The firm has a market capitalization of £2.95 billion, a price-to-earnings ratio of 8.08, a PEG ratio of 0.10 and a beta of 1.22. Drax Group has a one year low of GBX 534.50 and a one year high of GBX 918. The business has a fifty day simple moving average of GBX 858.47 and a 200 day simple moving average of GBX 756.60. The company has a current ratio of 1.26, a quick ratio of 0.32 and a debt-to-equity ratio of 64.11.

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. The Customers segment supplies electricity and gas to non-domestic customers. The company owns and operates Drax Power Station located in Selby, North Yorkshire; Cruachan Power Station, a pumped storage hydro station, with an installed capacity of 440 megawatts (MW) located in Argyll and Bute; and Lanark and Galloway hydro-electric power stations with an installed capacity of 126 MW located in southwest Scotland.