Drax Group Plc with ticker (LON:DRX) now has a potential upside of 63.7% according to JP Morgan Cazenove.
JP Morgan Cazenove set a target price of 760 GBX for the company, which when compared to the Drax Group Plc share price of 464 GBX at opening today (19/01/2024) indicates a potential upside of 63.7%. Trading has ranged between 395 (52 week low) and 695 (52 week high) with an average of 1,384,013 shares exchanging hands daily. The market capitalisation at the time of writing is £1,832,927,295.
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 63.7% potential upside indicated by JP Morgan Cazenove
- Written by: Charlotte Edwards
Find more news, interviews, share price & company profile here for:
Latest Company News
Drax has marked 60 years of Cruachan Power Station, highlighting the pumped storage hydro asset’s role in UK grid flexibility and future energy storage.
Drax has received its first UK biomass delivery from the Ultra Yorkshire as it strengthens supply security and targets lower shipping emissions.
Drax is planning solar generation at its Cruachan hydro site in Scotland, adding renewable capacity around an established flexible power asset.
Drax is using energy efficiency and on-site solar to cut costs, reduce emissions and strengthen resilience across schools, communities and its own operations.
Drax Group maintains strong earnings visibility and operational momentum as Longspur Research highlights flexible generation and shareholder returns potential.
Drax Group plc cites solid performance, progress in FlexGen and storage projects, and stable earnings guidance while advancing capacity agreements and shareholder returns.
