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Changing of Neutral rating for Drax Group

Out of 15 analysts covering Drax Group PLC (LON:DRX), 4 rate it a “Buy”, 6 “Sell”, while 6 “Hold”. This means 25% are positive. GBX 340 is the highest target while GBX 180 is the lowest. The GBX 264.33 average target is -14.28% below today’s (GBX 298.5) stock price. Drax Group PLC has been the topic of 95 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Deutsche Bank downgraded the stock on April 26 to “Sell” rating. Citigroup maintained it with “Neutral” rating and GBX 271 target price in a March 21 report. BNP Paribas maintained the shares of DRX in a report on April 4 with “Outperform” rating. Bernstein maintained the firm’s rating on March 11. Bernstein has “Market Perform” rating and GBX 250 price target. Lastly, RBC Capital Markets maintained the stock with “Underperform” rating in an April 1 report.

About 35,557 shares traded hands. Drax Group Plc (LON:DRX) has risen 26.86% since November 10, 2015 and is uptrending. It has outperformed by 27.16% the S&P500.

Drax is engaged in the electricity generation

Drax Group Plc is engaged in the electricity generation; electricity supply to business customers, and manufacturing of sustainable compressed wood pellets for use in electricity production. The company has a market cap of 1.21 billion GBP. The Firm operates through three divisions: Generation, which is engaged in the generation of electricity at Drax Power Station; Biomass Supply, which is engaged in the production of sustainable compressed wood pellets at its processing facilities in the United States, and Retail, which is engaged in the supply of power to business clients and wood pellets to the domestic heat market. It has a 21.6 P/E ratio. It operates through over four business units, including Drax Biomass, which is a supplier of compressed wood pellets manufactured from sustainable sources; Drax Power, which generates electricity, and Supply activities delivered through three routes, such as Drax Power, Haven Power and Billington Bioenergy.

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