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

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

Drax Group Stock Performance

LON DRX traded down GBX 7.50 ($0.09) on Tuesday, hitting GBX 651.50 ($8.05). The stock had a trading volume of 1,160,834 shares, compared to its average volume of 1,400,425. The company’s 50-day moving average is GBX 633.52 and its two-hundred day moving average is GBX 639.23. The stock has a market cap of £2.48 billion, a price-to-earnings ratio of 392.47, a P/E/G ratio of 0.10 and a beta of 1.22. The company has a quick ratio of 0.32, a current ratio of 1.26 and a debt-to-equity ratio of 63.77. Drax Group has a one year low of GBX 407.40 ($5.03) and a one year high of GBX 692 ($8.55).

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.