M.P. Evans Group (LON:MPE) Trading Up 8.1% on Analyst Upgrade

Shares of M.P. Evans Group PLC (LON:MPE) shot up 8.1% on Monday after Canaccord Genuity Group raised their price target on the stock from GBX 1,900 to GBX 2,500. Canaccord Genuity Group currently has a buy rating on the stock. M.P. Evans Group traded as high as GBX 2,065 and last traded at GBX 2,045. 233,557 shares changed hands during mid-day trading, an increase of 9% from the average session volume of 214,683 shares. The stock had previously closed at GBX 1,892.

M.P. Evans Group Price Performance

The stock has a 50-day simple moving average of GBX 1,699.75 and a 200-day simple moving average of GBX 1,617.33. The stock has a market cap of £1.06 billion, a PE ratio of 9.66 and a beta of 0.33.

M.P. Evans Group Company Profile

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.