Canaccord Genuity Group Begins Coverage on Anglo-Eastern Plantations (LON:AEP)

Analysts at Canaccord Genuity Group started coverage on shares of Anglo-Eastern Plantations (LON:AEP) in a research note issued to investors on Friday,London Stock Exchange reports. The firm set a “buy” rating and a GBX 250 price target on the stock. Canaccord Genuity Group’s target price points to a potential upside of 38.89% from the stock’s previous close.

Anglo-Eastern Plantations Trading Up 5.3%

Shares of AEP stock traded up GBX 9 on Friday, reaching GBX 180. 335,500 shares of the stock were exchanged, compared to its average volume of 3,361,856. The stock has a market cap of £690.47 million, a PE ratio of 7.78 and a beta of 0.13. Anglo-Eastern Plantations has a one year low of GBX 88.40 and a one year high of GBX 229. The company has a debt-to-equity ratio of 0.09, a current ratio of 8.69 and a quick ratio of 5.67. The stock has a 50 day moving average price of GBX 872.87 and a 200 day moving average price of GBX 1,397.59.

Anglo-Eastern Plantations announced that its Board of Directors has approved a share buyback program on Monday, July 6th that permits the company to repurchase 0 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

About Anglo-Eastern Plantations

Anglo-Eastern Plantations Plc, quoted on the London Stock Exchange, owns, operates and develops plantations in Indonesia and Malaysia, which produce mainly palm oil and some rubber. The Group is committed to responsible development and management of its plantations and facilities for the benefit of the environment and society in which it operates in.