Barclays downgrades Drax but eyes new dividend policy
31st Jan 2017 10:32
(ShareCast News) - In what was a largely very positive note, Barclays downgraded Drax Group after a 75% share price rally over the last year as the coal power station's plans to strengthen and extend earnings "lack clarity". Final European Union state-aid approval for Drax's biomass CFD subsidy has
Read moreDrax powers ahead as EU approves UK support of plant conversion
19th Dec 2016 12:12
(ShareCast News) - Drax powered ahead on Monday after the European Commission approved the UK's support of its plans to convert a unit of its power station from coal to biomass. The EC - which had launched an investigation back in January to check that the aid would not lead to overcompensation and
Read moreRBC Capital upgrades Drax on recent acquisitions
13th Dec 2016 09:50
(ShareCast News) - RBC Capital Markets upgraded Drax to 'sector perform' from 'underperform' and lifted the price target to 320p from 280p. The bank said the upgrade was mostly on the back of recent acquisitions that address its concerns around the time-limited nature of the core asset. "We have pr
Read moreDrax to buy SME energy supplier Opus Energy for £340m
6th Dec 2016 07:16
(ShareCast News) - Drax surged as it announced a conditional agreement to buy Opus Energy for £340m and an agreement to acquire four open cycle gas turbine (OCGT) development projects for electricity generation, although it did also reiterate that full-year earnings were likely to be at the bottom e
Read moreFriday broker round-up
25th Nov 2016 17:30
(ShareCast News) - Essentra: Jefferies keeps at buy with a target price of 445p. Rio Tinto: HBSC stays at buy 3300p target. Legal & General: Berenberg reiterates buy with a 301p target. Jardine Lloyd Thomson: HSBC reiterates buy with a 1100p target. Diageo: Credit Suisse keeps at outperform with
Read moreSector movers: Retailers rise to the top
18th Oct 2016 16:17
(ShareCast News) - Retailers led gains in the market, with Tesco and Sainsbury leading the pack north on the heels of the latest sector survey results. During the last three months the former notched up its first market share gain in five years, with sales by 1.3% and market share by 0.1 percentage
Read moreFTSE 250 movers: Miners rally, housebuilders slump
17th Oct 2016 14:57
(ShareCast News) - The FTSE 250 index fell 0.83% to 17,831.76 points in afternoon trade on Monday. Drax Group was the biggest riser as Credit Suisse reiterated an 'outperform' rating and raised its target price on the shares from 415p to 425p. Credit Suisse said the European Commission might soon a
Read moreCredit Suisse eyes dividend increase at Drax, ups target
17th Oct 2016 14:07
(ShareCast News) - Analysts at Credit Suisse upped their target price on shares of Drax because of higher near-term pricing in energy markets and the possibility that the European Commission might soon hand down a ruling on the state aid offered to the company to help it transform its coal-fired gen
Read moreSector movers: Tesco leads cyclicals higher, pharma drags
14th Oct 2016 12:54
(ShareCast News) - Cyclicals took over from defensives, with Tesco spearheading gains among food and drug retailers while pharma stocks acted as the main drag. Tesco shares accounted for the lion's share of the gains in that sector after Unilever said issues surrounding the supply of its leading bra
Read moreBig Six energy company profits to drop 22%, Jefferies warns
22nd Sep 2016 07:59
(ShareCast News) - Seeing "significant headwinds" for the Big Six energy companies profits due to increased competition and lower power prices, broker Jefferies has downgraded Centrica and Drax to 'underperform' ratings. SSE was however felt better able to weather the storm and left at a 'hold' rati
Read moreBroker tips: Hikma, Drax, TT Electronics
24th Aug 2016 13:53
(ShareCast News) - Hikma Pharmaceuticals' shares have been maintain as 'hold' by Numis, with a target price of 2660p, following the company's surprise profit warning earlier in August and its interim numbers out on Wednesday. In the six months to end-June, Hikma's core revenue rose to $882m, from $7
Read moreCitigroup upgrades Drax, says risk/reward more balanced
24th Aug 2016 09:20
(ShareCast News) - Citigroup upgraded Drax to 'neutral' from 'sell' as an 8% drop in the share price since the beginning of the month has left the shares trading near the bank's unchanged 305p price target. Citi noted that despite the recent rally in oil and gas prices, Drax shares have underperform
Read moreSector movers: UK engineers drop on downgrades, utilities lower as well
16th Aug 2016 17:34
(ShareCast News) - Shares in British engineering groups Spectris and Halma dragged the Electronic & Electrical equipment sector lower after analysts at HSBC downgraded their stance on both in the wake-up of the recent run-up in their stock price. "The sector continued to re-rate through results seas
Read moreBroker tips: A.G. Barr, Drax, Tullow Oil
12th Aug 2016 09:48
(ShareCast News) - A.G. Barr shares fell on Friday as Berenberg downgraded its rating on the stock to 'sell' from 'hold' and cut its target price to 470p from 530p, citing a "weak" trading update by the soft drinks maker. In a 2 August trading statement, the Irn Bru maker said it expected a 2.9% yea
Read moreDrax boosted by HSBC upgrade
12th Aug 2016 08:04
(ShareCast News) - Drax got a boost on Friday as HSBC upgraded the stock to 'hold' from 'reduce' with an unchanged price target of 315p following weakness in the shares after the first-half results. The bank pointed out that Drax has underperformed the market after its first-half results. "The comp
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