Canaccord Genuity Group Forecasts Strong Price Appreciation for M.P. Evans Group (LON:MPE) Stock

M.P. Evans Group (LON:MPE) had its price objective increased by equities researchers at Canaccord Genuity Group from GBX 1,750 to GBX 1,900 in a research report issued on Wednesday,Digital Look reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 5.61% from the stock’s current price.

M.P. Evans Group Stock Up 6.3%

LON MPE opened at GBX 1,799 on Wednesday. The company has a 50-day moving average price of GBX 1,572.61 and a 200-day moving average price of GBX 1,510.20. M.P. Evans Group has a 52 week low of GBX 1,160 and a 52 week high of GBX 1,918. The firm has a market capitalization of £934.09 million, a P/E ratio of 8.49 and a beta of 0.31.

About M.P. Evans Group

M.P. Evans Group PLC is a responsible producer of certified sustainable crude palm oil (“CPO”), with plantations in five Indonesian provinces: Aceh, Bangka Belitung, East Kalimantan, North Sumatra and South Sumatra.

Headquartered in the UK, the Group’s shares are traded on the London Stock Exchange’s Alternative Investment Market (“AIM”).

The Group was founded by Matthew Pennefather Evans in the 1870s and its long history in tropical agriculture includes experience in tea and rubber plantations.