Anglo-Eastern Plantations (LON:AEP) Price Target Raised to GBX 275

Anglo-Eastern Plantations (LON:AEP) had its target price hoisted by stock analysts at Canaccord Genuity Group from GBX 250 to GBX 275 in a report released on Friday, Digital Look reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 41.17% from the company’s previous close.

Anglo-Eastern Plantations Trading Up 1.5%

Shares of LON:AEP traded up GBX 2.80 during mid-day trading on Friday, hitting GBX 194.80. The stock had a trading volume of 1,474,437 shares, compared to its average volume of 2,945,263. The company has a debt-to-equity ratio of 2.46, a quick ratio of 5.67 and a current ratio of 2.93. The company has a market cap of £745.47 million, a PE ratio of 8.42 and a beta of 0.13. Anglo-Eastern Plantations has a 12-month low of GBX 117.37 and a 12-month high of GBX 229. The company’s 50 day moving average is GBX 175.93 and its 200-day moving average is GBX 1,171.84.

Anglo-Eastern Plantations announced that its Board of Directors has initiated a stock repurchase plan on Monday, July 6th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally 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.