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Drax Group plc ( (GB:DRX) ) has provided an update.
Drax Group plc has announced the purchase of 68,471 of its own ordinary shares as part of its ongoing share buyback programme, which was initiated in August 2024. This transaction, conducted through J.P. Morgan Securities plc, reflects Drax’s strategy to manage its capital structure and return value to shareholders, potentially impacting its share price and investor relations.
The most recent analyst rating on (GB:DRX) stock is a Buy with a £793.00 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 strong financial performance, positive technical indicators, and attractive valuation drive the overall score. The earnings call further supports the positive outlook with strategic growth plans, despite some market challenges.
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 solutions. It is known for its power generation and biomass production, with a market focus on sustainable energy and reducing carbon emissions.
Average Trading Volume: 1,394,900
Technical Sentiment Signal: Buy
Current Market Cap: £2.45B
For an in-depth examination of DRX stock, go to TipRanks’ Overview page.