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

Shares of M.P. Evans Group PLC (LON:MPE) rose 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 traded hands during trading, an increase of 9% from the average daily volume of 214,683 shares. The stock had previously closed at GBX 1,892.

M.P. Evans Group Price Performance

The firm has a market cap of £1.06 billion, a price-to-earnings ratio of 9.66 and a beta of 0.33. The firm’s fifty day moving average is GBX 1,699.75 and its two-hundred day moving average is GBX 1,617.33.

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.