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Whitman Howard reiterated its “buy” recommendation on the electrical power generation firm, ahead of its interim results, which are out today. The broker said: “Operationally, the various units are performing well and we still believe that there is good long term value in Drax.”
Jefferies reiterated its “buy” rating on the transport business, and raised its target price from 118p to 120p. The broker said the company’s market price “already fully factors in targeted margin recovery”. “Upside, then, will require rail franchise wins and debt refinancing,” Jefferies added.