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Drax Group plc ( (GB:DRX) ) has shared an announcement.
Drax Group plc has executed a share buyback, purchasing 111,569 ordinary shares on the London Stock Exchange as part of its ongoing buyback programme initiated in August 2024. This action 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 is a company operating in the energy sector, primarily focusing on power generation and renewable energy solutions. It is known for its efforts in transitioning from coal to biomass and other sustainable energy sources, aiming to reduce carbon emissions and support the global shift towards cleaner energy.
Average Trading Volume: 1,249,905
Technical Sentiment Signal: Strong Buy
Current Market Cap: £2.36B
See more insights into DRX stock on TipRanks’ Stock Analysis page.