Drax Group Plc with ticker (LON:DRX) now has a potential upside of 48.4% according to JP Morgan.
JP Morgan set a target price of 760 GBX for the company, which when compared to the Drax Group Plc share price of 512 GBX at opening today (31/01/2024) indicates a potential upside of 48.4%. Trading has ranged between 395 (52 week low) and 695 (52 week high) with an average of 1,604,509 shares exchanging hands daily. The market capitalisation at the time of writing is £1,949,481,159.
Drax Group PLC is a United Kingdom-based renewable energy company. The Company is engaged in renewable power generation, the production of sustainable biomass and the sale of renewable electricity to businesses. Its segments include Pellet Production, Generation, and Customers. The Pellet Production segment is engaged in the production and subsequent sale of biomass pellets at the Group’s processing facilities in North America. The Generation segment includes its power generation activities in the United Kingdom. The Customers segment is engaged in the supply of electricity and gas to non-domestic customers in the United Kingdom. It also operates a generation portfolio of sustainable biomass, hydro-electric and pumped hydro storage assets across four sites in England and Scotland. It also operates a bioenergy supply business with manufacturing facilities at 13 sites in the United States and Canada. It also offers installation and maintenance of electric vehicle (EV) charge points.
Drax Group Plc 48.4% potential upside indicated by JP Morgan
- Written by: Charlotte Edwards
Find more news, interviews, share price & company profile here for:
Latest Company News
Britain needs more than renewable generation to reshape its power system, and Drax is developing generation, storage and flexibility assets to address that need.
Drax Group sees stronger FY26 expectations as Longspur Research raises its EBITDA forecast following strong summer trading.
Britain’s solar expansion is increasing demand for storage and flexible power, supporting the strategic role of Drax’s existing generation portfolio.
Drax expects 2026 adjusted EBITDA to be around the top of the £680–711 million consensus range, following strong operational performance and the completion of its £561 million acquisition of Bluefield Solar Income Fund.
Drax is pushing for wider electricity cost reform as the UK considers how to support electrification, industrial investment and long-term energy infrastructure.
Joep van Beurden will join the Drax Board as a non-executive director from 1 October 2026, bringing extensive leadership and international business experience.
