Drax stock trades at EUR 9.62 after EBITDA outlook upgrade
Published on 09/30/2026 at 15:49 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Drax (GB00B1VNSX38) was trading at EUR 9.62 at Lang & Schwarz on September 30, 2026 at 3:36 p.m. CEST, down 0.72 percent from the prior close of EUR 9.69. The company raised its 2029 adjusted EBITDA target after completing the Bluefield Solar Income Fund acquisition.
Drax lifts its long term target
According to Drax Global on September 17, 2026, the group expects 2026 adjusted EBITDA near the top of a consensus range of GBP 680.0 million to GBP 711.0 million, with consensus at GBP 698.0 million.
The H1 2026 earnings call put adjusted EBITDA at GBP 279.0 million and adjusted earnings per share at GBP 0.298. According to Yahoo Finance, management lifted the 2029 adjusted EBITDA target from GBP 600.0-700.0 million to GBP 650.0-800.0 million, adding GBP 50.0-100.0 million of expected BESS EBITDA.
Bluefield expands the asset base
The September update said Drax completed the Bluefield acquisition on July 31, 2026, for GBP 561.0 million, with an enterprise value of GBP 1.082 billion. The deal adds 0.9 GW of operational solar and wind capacity and a 2.9 GW development pipeline spanning solar and battery storage.
Drax also reported more than GBP 1.0 billion of contracted forward power sales between 2026 and 2028 as of September 15, 2026. The company said the portfolio reached approximately 6.1 GW under management after the transaction, broadening its exposure beyond biomass generation.
Analysts raise the valuation bar
Investing.com reported on September 1, 2026, that Goldman Sachs upgraded Drax from Neutral to Buy and raised its 12-month price target from 924.00p to 1,020.00p. The bank cited cash flow visibility and the potential for data center development at the Drax Power Station site.
For investors, the key test is execution: the revised earnings target depends on integrating Bluefield, developing battery storage and maintaining operational performance. Drax's 2026 capital expenditure expectation remains GBP 210.0-250.0 million, according to the September 17 update.
Drax stock trades below its yearly high
Drax stock was trading at EUR 9.62 at Lang & Schwarz on September 30, 2026 at 3:36 p.m. CEST, down 0.72 percent versus the Lang & Schwarz prior close of EUR 9.69 on September 29, 2026. On the London Stock Exchange, DRX.L was last quoted at GBp 813.00 on September 30, 2026, versus a 52-week range of GBp 692.00 to GBp 937.50.
Drax stock key facts
- Company: Drax Group plc
- ISIN: GB00B1VNSX38
- Ticker: DRX.L
- Primary exchange: London Stock Exchange
- Price Lang & Schwarz (as of September 30, 2026, 3:36 p.m. CEST): EUR 9.62
- Change versus prior close: minus 0.72 percent
- Prior close Lang & Schwarz (September 29, 2026): EUR 9.69
- 52-week range: GBp 692.00-937.50 on the London Stock Exchange, as of September 30, 2026
- Sector / Industry: Utilities / Renewable Utilities
