Drax Group (LON:DRX) Price Target Raised to GBX 900

Drax Group (LON:DRX) had its price target lifted by research analysts at JPMorgan Chase & Co. from GBX 850 ($10.50) to GBX 900 ($11.12) in a research report issued on Tuesday,Digital Look reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 38.14% from the company’s current price.

Drax Group Stock Performance

DRX traded down GBX 7.50 ($0.09) during trading on Tuesday, reaching GBX 651.50 ($8.05). 1,160,834 shares of the company’s stock were exchanged, compared to its average volume of 1,400,425. The company has a quick ratio of 0.32, a current ratio of 1.26 and a debt-to-equity ratio of 63.77. The business has a 50 day moving average price of GBX 633.52 and a 200 day moving average price of GBX 639.23. Drax Group has a fifty-two week low of GBX 407.40 ($5.03) and a fifty-two week high of GBX 692 ($8.55). The company has a market capitalization of £2.48 billion, a P/E ratio of 392.47, a PEG ratio of 0.10 and a beta of 1.22.

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.