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Drax Group plc ( (GB:DRX) ) has shared an announcement.
Drax Group plc announced the purchase of 113,085 of its ordinary shares as part of a share buyback programme initiated in August 2024. This move is part of Drax’s strategy to manage its capital structure and return value to shareholders, reflecting confidence in its financial health and future prospects.
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 operates in the energy sector, primarily focusing on renewable energy and power generation. The company is known for its efforts in transitioning from coal to biomass and other sustainable energy sources, positioning itself as a leader in the renewable energy market.
Average Trading Volume: 1,305,530
Technical Sentiment Signal: Strong Buy
Current Market Cap: £2.37B
For detailed information about DRX stock, go to TipRanks’ Stock Analysis page.