M.P. Evans (MPE) recently released its FY 2015 results, which were broadly in line with our expectations. We are not materially changing our FY 2016E forecasts or target price. However, we have reassessed the investment case and remain enthusiastic for the following reasons: 1) the industry should get a tailwind from the CPO price in 2016 for the first time in four years; 2) MPE’s Palm Oil output should grow 18% in both 2016 and 2017; 3) MPE is in a position of net cash, enjoys strong c
19 Apr 2016
Appealing blend of value, growth, stability
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Appealing blend of value, growth, stability
M.P. Evans Group PLC (MPE:LON) | 826 0 0.0% | Mkt Cap: 438.2m
- Published:
19 Apr 2016 -
Author:
Cavendish Research -
Pages:
16
M.P. Evans (MPE) recently released its FY 2015 results, which were broadly in line with our expectations. We are not materially changing our FY 2016E forecasts or target price. However, we have reassessed the investment case and remain enthusiastic for the following reasons: 1) the industry should get a tailwind from the CPO price in 2016 for the first time in four years; 2) MPE’s Palm Oil output should grow 18% in both 2016 and 2017; 3) MPE is in a position of net cash, enjoys strong c