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The latest update is out from Drax Group plc ( (GB:DRX) ).
Drax Group plc has been informed of an investigation by the Financial Conduct Authority concerning its biomass sourcing and the compliance of its annual reports from 2021 to 2023 with regulatory standards. The company has committed to cooperating with the FCA, and this investigation could have implications for its operations and stakeholder confidence.
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 primarily on renewable energy solutions. The company is known for its biomass sourcing and power generation, aiming to provide sustainable energy solutions.
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.