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
A new contract repositions Drax as a strategic flex provider to the UK grid, while preserving future options in carbon capture and digital infrastructure.
Drax reports a solid trading performance and now expects full year 2025 adjusted EBITDA to be near the top end of market estimates.
Biomass just delivered a record share of UK electricity, highlighting its rising role as a stabiliser in a weather-dependent grid.
Prescribed burning is becoming a standard tool for protecting forestry assets and restoring high-value wildlife habitat across the US Southeast.
Drax Group (LON:DRX) continues its share buyback programme, purchasing 77,199 shares as part of its capital allocation strategy.
Drax’s investment in a local education centre is a calculated step toward long-term community alignment near its flagship power station.
