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Drax Group plc ( (GB:DRX) ) has provided an update.
Drax Group plc has executed a share buyback program, purchasing 70,200 ordinary shares on the London Stock Exchange. This move is part of a broader strategy announced in August 2024 to repurchase shares, with the company having bought a total of 42,825,527 shares for treasury since the program’s inception. The buyback is expected to enhance shareholder value and optimize the company’s capital structure.
The most recent analyst rating on (GB:DRX) stock is a Buy with a £7.50 price target. To see the full list of analyst forecasts on Drax Group plc stock, see the GB:DRX Stock Forecast page.
Spark’s Take on GB:DRX Stock
According to Spark, TipRanks’ AI Analyst, GB:DRX is a Outperform.
Drax Group plc receives a strong overall score due to its attractive valuation, robust technical indicators, and positive earnings call highlights. Despite challenges in revenue growth and regulatory risks, the company’s financial stability and strategic initiatives in shareholder returns are significant strengths.
To see Spark’s full report on GB:DRX stock, click here.
More about Drax Group plc
Drax Group plc operates in the energy sector, focusing on renewable energy production and power generation. The company is known for its biomass-fueled power stations and is committed to reducing carbon emissions and supporting sustainability initiatives.
Average Trading Volume: 1,486,776
Technical Sentiment Signal: Buy
Current Market Cap: £2.38B
Learn more about DRX stock on TipRanks’ Stock Analysis page.