London: Drax Group (LON:DRX) Stock Has Just Had Its “Reduce” Rating Reiterated by HSBC. Shares now Have a GBX 190.00 Target


Drax Group (LON:DRX) Rating Reaffirmed

HSBC now has a GBX 190.00 price target on shares of Drax Group (LON:DRX). The price target implies a potential downside of -19.49% from the current price of Drax Group (LON:DRX). This rating was revealed to clients and investors in a comprehensive report on Friday morning.

From a total of 14 analysts covering Drax Group PLC (LON:DRX) stock, 7 rate it a ”Buy”, 4 a “Sell”, and 3 a ”Hold”. This means that 50% of the ratings are positive. The highest target price is GBX 450 while the lowest target price is GBX 190. The mean of all analyst targets is GBX 310.36 with a 32.63% above today’s (GBX 234) stock price. Drax Group PLC was the topic of 41 analyst reports since July 29, 2015 according to the firm StockzIntelligence Inc. HSBC maintained shares on November 27 with “Reduce” rating. RBC Capital Markets maintained shares with “Underperform” rating and GBX 270 target share price in a report from a November 24. Societe Generale maintained DRX stock in a recent report from November 25 with “Hold” rating. Bernstein maintained the rating on November 23. Bernstein has a “Outperform” rating and a GBX 370 price target on shares. Finally, Goldman Sachs maintained the stock with “Sell” rating in a report issued on a November 25.

The stock decreased 1.14% or GBX 2.7 on November 27, striking GBX 234. Approximately 957,931 shares of stock traded hands. Drax Group Plc (LON:DRX) has declined 42.11% since May 1, 2015 and is downtrending. It has underperformed by 41.22% the S&P500.

London: Drax Group (LON:DRX) Stock Has Just Had Its

Drax Group Plc is engaged in sourcing of fuel , electricity production and electricity sales to the wholesale market and business customers. The company has a market cap of 959.32 million GBP. The Firm operates in two business divisions: Generation and Retail. It has 5.51 P/E ratio. The Generation segment spans all three core activities of the firm in that it incorporates sourcing of coal, biomass and other fuels, generation and supply (through its sales to the wholesale electricity market).