Drax Group (LON:DRX) Given New GBX 900 Price Target at JPMorgan Chase & Co.

Drax Group (LON:DRX) had its price target upped by equities researchers at JPMorgan Chase & Co. from GBX 850 ($10.58) to GBX 900 ($11.20) in a report released on Tuesday, MarketBeat reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 40.30% from the stock’s current price.

Drax Group Stock Performance

Shares of LON DRX opened at GBX 641.50 ($7.98) on Tuesday. The company’s fifty day moving average price is GBX 633.18 and its 200 day moving average price is GBX 640.47. Drax Group has a 1 year low of GBX 407.40 ($5.07) and a 1 year high of GBX 692 ($8.61). The company has a market capitalization of £2.44 billion, a PE ratio of 386.45, a price-to-earnings-growth ratio of 0.10 and a beta of 1.22. The company has a debt-to-equity ratio of 63.77, a quick ratio of 0.32 and a current ratio of 1.26.

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.