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An update from Drax Group plc ( (GB:DRX) ) is now available.
Drax Group plc has announced the purchase of 150,000 of its own ordinary shares as part of its ongoing share buyback program, which was initially announced in August 2024. This transaction reflects the company’s strategy to manage its capital structure and return value to shareholders, with the total number of shares now held in treasury reaching 75,942,626. The move impacts the total voting rights and could influence shareholder notifications under regulatory rules.
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 scores a robust 79, driven by strong technical indicators and an attractive valuation. Solid financial performance and strategic shareholder value initiatives further support the score. Although regulatory uncertainties and project delays pose risks, Drax’s proactive management and strategic planning mitigate these concerns.
To see Spark’s full report on GB:DRX stock, click here.
More about Drax Group plc
Average Trading Volume: 1,611,343
Technical Sentiment Signal: Strong Buy
Current Market Cap: £2.28B
For a thorough assessment of DRX stock, go to TipRanks’ Stock Analysis page.