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An update from Drax Group plc ( (GB:DRX) ) is now available.
Drax Group plc announced a recent transaction under its share buyback program, purchasing 116,100 of its ordinary shares on the London Stock Exchange. This move is part of a larger initiative that began in August 2024, which has seen the company buy back over 45 million shares in total. The buyback program is aimed at optimizing the company’s capital structure and potentially enhancing shareholder value.
The most recent analyst rating on (GB:DRX) stock is a Buy with a £742.00 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’s overall score reflects its strong financial performance and attractive valuation, supported by positive earnings call insights. However, technical indicators suggest potential bearish momentum, and challenges in revenue growth and market conditions pose risks.
To see Spark’s full report on GB:DRX stock, click here.
More about Drax Group plc
Drax Group plc is a British energy company primarily involved in renewable energy production and supply. It focuses on sustainable biomass, hydroelectric power, and other renewable energy sources, positioning itself as a leader in the transition to low-carbon energy solutions.
Average Trading Volume: 1,287,240
Technical Sentiment Signal: Strong Buy
Current Market Cap: £2.34B
Learn more about DRX stock on TipRanks’ Stock Analysis page.