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Drax Group plc ( (GB:DRX) ) has provided an announcement.
Drax Group plc has executed a share buyback program, purchasing 110,500 of its ordinary shares on the London Stock Exchange. This transaction is part of a larger buyback initiative announced in August 2024, with the company having acquired a total of 47,123,240 shares for treasury since then. The buyback program is a strategic move to manage the company’s capital structure and potentially enhance 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
Average Trading Volume: 1,240,470
Technical Sentiment Signal: Buy
Current Market Cap: £2.48B
Learn more about DRX stock on TipRanks’ Stock Analysis page.