Drax Group (DRX) Stock Forecast & Price Target

GBX 645.50

+79.00 (+13.95%)

(As of 07/26/2024 ET)

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Drax Group - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Hold
Based on 3 Analyst Ratings

Based on 3 Wall Street analysts who have issued ratings for Drax Group in the last 12 months, the stock has a consensus rating of "Hold." Out of the 3 analysts, 1 has given a sell rating, and 2 have given a buy rating for DRX.

Consensus Price Target

GBX 764.67

High Forecast	GBX 1,100
Average Forecast	GBX 764.67
Low Forecast	GBX 434

According to the 3 analysts' twelve-month price targets for Drax Group, the average price target is GBX 764.67. The highest price target for DRX is GBX 1,100, while the lowest price target for DRX is GBX 434. The average price target represents a forecasted upside of 18.46% from the current price of GBX 645.50.

Type	Current Forecast 7/28/23 to 7/27/24	1 Month Ago 6/28/23 to 6/27/24	3 Months Ago 4/29/23 to 4/28/24	1 Year Ago 7/28/22 to 7/28/23
Consensus Rating	Hold	Moderate Buy	Moderate Buy	Moderate Buy
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	2 Buy rating(s)	3 Buy rating(s)	3 Buy rating(s)	3 Buy rating(s)
Hold	0 Hold rating(s)	0 Hold rating(s)	0 Hold rating(s)	2 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	GBX 764.67	GBX 873.50	GBX 873.50	GBX 862.60

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DRX Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

DRX Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Drax Group Stock vs. The Competition

Type	Drax Group	Utilities Companies
Consensus Rating Score	2.33	2.47
Consensus Rating	Hold	Hold
News Sentiment Rating	Neutral News	Neutral News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Action	Rating	Price Target	Upside/Downside on Report Date
7/5/2024	JPMorgan Chase & Co. 3 of 5 stars	Reiterated Rating	Overweight
4/3/2024	Citigroup 3 of 5 stars	Reiterated Rating	Sell	GBX 434	-11.61%
2/21/2024	Royal Bank of Canada 4 of 5 stars	Lower Target	Outperform	GBX 1,200 ➝ GBX 1,100	+157.79%
7/6/2023	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Overweight	GBX 1,150 ➝ GBX 1,200	+108.19%
2/16/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Neutral	GBX 700 ➝ GBX 625	-7.68%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 06:51 AM ET.

DRX Forecast - Frequently Asked Questions

What is Drax Group's forecast for 2024?: According to the research reports of 3 Wall Street equities research analysts, the average twelve-month stock price forecast for Drax Group is GBX 764.67, with a high forecast of GBX 1,100 and a low forecast of GBX 434.
Should I buy or sell Drax Group stock right now?: 3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Drax Group in the last twelve months. There is currently 1 sell rating and 2 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" DRX shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in DRX, but not buy additional shares or sell existing shares.
Does Drax Group's stock price have much upside?: According to analysts, Drax Group's stock has a predicted upside of 64.66% based on their 12-month stock forecasts.
What analysts cover Drax Group?: Drax Group has been rated by research analysts at JPMorgan Chase & Co. in the past 90 days.
Do Wall Street analysts like Drax Group more than its competitors?: Analysts like Drax Group less than other "utilities" companies. The consensus rating score for Drax Group is 2.33 while the average consensus rating score for "utilities" companies is 2.47. Learn more on how DRX compares to other companies.