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Drax Group plc ( (GB:DRX) ) has provided an update.
Drax Group plc has announced the purchase of 69,300 of its own ordinary shares as part of its ongoing share buyback program, which was initiated in August 2024. This transaction reflects Drax’s strategic focus on optimizing its capital structure and potentially enhancing shareholder value, with the company having acquired a total of 43,649,755 shares for treasury since the program’s inception.
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’s overall stock score is driven by solid financial performance and attractive valuation. The company’s strategic initiatives and strong balance sheet further support its potential. However, challenges in revenue growth and market uncertainties 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, focusing on renewable energy solutions and power generation. The company is known for its biomass-fueled power stations and is committed to reducing carbon emissions through sustainable energy practices.
Average Trading Volume: 1,463,250
Technical Sentiment Signal: Buy
Current Market Cap: £2.39B
Learn more about DRX stock on TipRanks’ Stock Analysis page.
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