Drax Group (OTCMKTS:DRXGF) Price Target Cut to GBX 850

Drax Group (OTCMKTS:DRXGFGet Rating) had its price target decreased by Morgan Stanley from GBX 1,020 ($12.06) to GBX 850 ($10.05) in a research report report published on Wednesday, The Fly reports.

DRXGF has been the subject of a number of other research reports. Citigroup lifted their price target on Drax Group from GBX 537 ($6.35) to GBX 598 ($7.07) in a research note on Friday, November 18th. Credit Suisse Group raised shares of Drax Group from an underperform rating to a neutral rating in a research report on Thursday, November 10th. Barclays lifted their target price on shares of Drax Group from GBX 820 ($9.70) to GBX 1,000 ($11.82) in a research report on Monday. Royal Bank of Canada lifted their target price on shares of Drax Group from GBX 950 ($11.23) to GBX 1,050 ($12.42) in a research report on Tuesday. Finally, Jefferies Financial Group raised shares of Drax Group from a hold rating to a buy rating in a research report on Monday, October 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $855.50.

Drax Group Stock Performance

Shares of DRXGF opened at $7.38 on Wednesday. The stock has a 50-day moving average of $6.81 and a 200-day moving average of $7.99. Drax Group has a one year low of $5.36 and a one year high of $11.10.

About Drax Group

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

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