Following our 2 November 2016 note “The valuation genie is out of the bottle”, a great deal of new information has been disclosed about MPE (particularly on the non-core assets), while the company has re-based the dividend, announced a special dividend and announced the sale of major associate PT Agro Muko for US$100m. We now take all this new information into account and update our forecasts accordingly. As a result, we are increasing our price target from 815p/share to 835p/shar
08 Dec 2016
Increasing price target from 815p to 835p
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Increasing price target from 815p to 835p
M.P. Evans Group PLC (MPE:LON) | 831 -16.6 (-0.2%) | Mkt Cap: 440.8m
- Published:
08 Dec 2016 -
Author:
Cavendish Research -
Pages:
12
Following our 2 November 2016 note “The valuation genie is out of the bottle”, a great deal of new information has been disclosed about MPE (particularly on the non-core assets), while the company has re-based the dividend, announced a special dividend and announced the sale of major associate PT Agro Muko for US$100m. We now take all this new information into account and update our forecasts accordingly. As a result, we are increasing our price target from 815p/share to 835p/shar