Drax Group Plc 33.3% potential upside indicated by JP Morgan Cazenove

Drax Group Plc with ticker (LON:DRX) now has a potential upside of 33.3% according to JP Morgan Cazenove.



JP Morgan Cazenove set a target price of 990 GBX for the company, which when compared to the Drax Group Plc share price of 661 GBX at opening today (08/07/2022) indicates a potential upside of 33.3%. Trading has ranged between 389 (52 week low) and 846 (52 week high) with an average of 1,960,046 shares exchanging hands daily. The market capitalisation at the time of writing is £2,626,712,389.

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 large 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.