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BUZZ-Drax: shares sink on GS downgrade

Reuters - UK Focus

** Shares (Berlin: DI6.BE - news) in Drax Group (LSE: DRX.L - news) fall more than 3 pct after Goldman Sachs downgrades co

** Stock top loser on FTSE All Share Utilities Index

** GS cuts TP on stock to 230p from 300p, changes rating to "sell"

** Brokerage says Drax has underperformed the utilities sector by 35 pct YTD, reflecting falling power prices and unfavourable regulatory changes.

** "We highlight a further potential negative catalyst: the EU decision on regulation for Drax's final biomass unit." (RM (LSE: RM.L - news) : aastha.agnihotri.thomsonreuters.com@reuters.net)