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

Drax Group (LON:DRX) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from GBX 850 ($10.58) to GBX 900 ($11.20) in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 40.30% from the company’s previous close.

Drax Group Stock Performance

Shares of LON:DRX opened at GBX 641.50 ($7.98) on Tuesday. The company has a market capitalization of £2.44 billion, a price-to-earnings ratio of 386.45, a PEG ratio of 0.10 and a beta of 1.22. Drax Group has a 12 month low of GBX 407.40 ($5.07) and a 12 month high of GBX 692 ($8.61). The firm’s 50-day moving average is GBX 633.18 and its 200 day moving average is GBX 640.47. The company has a current ratio of 1.26, a quick ratio of 0.32 and a debt-to-equity ratio of 63.77.

Drax Group Company Profile

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.