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Drax Group plc ( (GB:DRX) ) just unveiled an update.
Drax Group plc has executed a share buyback program, purchasing 68,364 of its ordinary shares on the London Stock Exchange. This move is part of a broader strategy announced in August 2024, which has seen the company acquire over 44 million shares for treasury, potentially impacting shareholder value and market positioning.
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, primarily focusing on renewable energy solutions. The company is known for its efforts in biomass energy production and aims to lead in sustainable energy practices.
Average Trading Volume: 1,347,395
Technical Sentiment Signal: Buy
Current Market Cap: £2.44B
Learn more about DRX stock on TipRanks’ Stock Analysis page.