▼ -3.19% Downside Potential
This price target is based on 7 analysts offering 12 month price targets for Drax Group plc (DRX.L) in the last 3 months. The average price target is GBX 363.43, with a high forecast of GBX 550 and a low forecast of GBX 280. The average price target represents a -3.19% upside from the last price of GBX 375.40.
The current consensus among 7 investment analysts is to buy stock in Drax Group plc (DRX.L). This rating has held steady since July 2019, when it changed from a Hold consensus rating.
Drax Group plc, together with its subsidiaries, engages in the generation and supply of electricity in the United Kingdom. The company operates through three segments: Generation, Customers, and, Pellet Production. It produces low carbon and renewable electricity; and provides system support services to the electricity grid. The company owns and operates Drax Power Station that produces electricity from biomass and coal with an installed capacity of 3,906 megawatts (MW) located in Selby, North Yorkshire; Cruachan Power Station, a pumped hydro storage station, with an installed capacity of 440 MW located in Argyll and Bute, western Scotland; and Lanark and Galloway hydro-electric power stations with an installed capacity of 126 MW located in southwest Scotland. It also owns and operates combined cycle gas turbine power stations, including Damhead Creek power station with an installed capacity of 805 MW; Rye House power station with an installed capacity of 715 MW; Shoreham power station with an installed capacity of 420 MW; and Blackburn power station with an installed capacity of 60 MW located in England. In addition, the company owns and operates Daldowie fuel plant that processes sludge from a wastewater treatment plant and converts it into dry and low-odour fuel pellets. Further, it manufactures and sells compressed wood pellets for use in electricity production; supplies and manages electricity and gas for large industrial and commercial sector customers, as well as small businesses; and provides debt recovery services. Drax Group plc was incorporated in 2005 and is based in Selby, the United Kingdom.