Drax Group Plc -6.5% potential downside indicated by Credit Suisse

Broker Ratings

Drax Group Plc with ticker (LON:DRX) now has a potential downside of -6.5% according to Credit Suisse.

Credit Suisse set a target price of 625 GBX for the company, which when compared to the Drax Group Plc share price of 666 GBX at opening today (22/02/2023) indicates a potential downside of -6.5%. Trading has ranged between 467 (52 week low) and 846 (52 week high) with an average of 1,820,039 shares exchanging hands daily. The market capitalisation at the time of writing is £2,687,068,500.

Drax Group PLC is a United Kingdom-based renewable energy generator. The Company operates a portfolio of renewable biomass and hydro assets to provide renewable and low-carbon generation and system support services. It operates through three segments: Generation, Customers and Pellet Production. The Generation segment includes its power generation activities in the United Kingdom (UK). The Customers segment is engaged in the supply of electricity and gas to business customers in the UK. The Pellet Production segment is engaged in the production of sustainable compressed wood pellets at its processing facilities in the United States (US). The Customers segment supplies renewable electricity to businesses through Haven Power and Opus Energy. Haven Power supplies and manages electricity for industrial and commercial sector customers, as well as small businesses. Opus Energy provides a market for excess power from energy sources, such as wind, solar, hydro and anaerobic digestion.

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