Drax Group (LON:DRX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Drax Group (LON:DRX - Get Free Report) had its target price lifted by JPMorgan Chase & Co. from GBX 850 ($10.68) to GBX 900 ($11.31) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 42.74% from the company's current price.

Drax Group Trading Down 0.3 %

Shares of DRX traded down GBX 2 ($0.03) during trading hours on Tuesday, hitting GBX 630.50 ($7.92). 658,747 shares of the stock were exchanged, compared to its average volume of 1,440,247. Drax Group has a fifty-two week low of GBX 407.40 ($5.12) and a fifty-two week high of GBX 692 ($8.70). The company has a debt-to-equity ratio of 64.11, a current ratio of 1.26 and a quick ratio of 0.32. The business has a 50-day moving average of GBX 632.58 and a 200-day moving average of GBX 640.98. The firm has a market capitalization of £2.31 billion, a P/E ratio of 3.74, a price-to-earnings-growth 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.