July 2, 2019 / 1:28 PM / in 15 days

BUZZ-Drax: JPM sees small half-year loss on higher costs

** Shares of British power producer Drax Group Plc were down 2.2% at 269 pence

** J.P. Morgan cuts price target on stock to 400 pence from 450 pence earlier

** JPM says higher depreciation associated with the ScottishPower generation acquisition and higher finance costs point to a small loss in HY versus a small profit last year

** “It has been a torrid couple of months for DRX.. Since mid-Jan, the stock is down ~35% on commodity price weakness and fears over the UK capacity market,” JPM says

** DRX will announce its first-half interim results on July 24 (Reporting by Justin George Varghese in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below