Friday May 9, 12:12 PM
MP Evans Group initiated with "buy"
By Panmure Gordon & Co
LONDON, May 9 (newratings.com) - Analyst Charles Hall of Panmure Gordon initiates coverage of MP Evans Group PLC (ticker: NYP) with a "buy" rating. The target price is set to 600p.
In a research note published this morning, the analyst mentions
that the company is in the process of diverting its funds from its Malaysian assets towards growing its palm oil plantations in Indonesia. This will enable MP Evans to generate volume growth over the next 25 years, the analyst says. The company is also benefiting from rising palm oil prices, Panmure Gordon adds.© 2008 New Ratings
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