Evergreen shares rise to eight-year high

PETALING JAYA: Rising investor interest in Evergreen Fibreboard Bhd, as its earnings prospects improve, has sent the company’s share prices to its eight-year high.

Shares of the medium-density fibreboard (MDF) producer, which had been on an upward trend since the beginning of the year, gained further momentum yesterday after CIMB Research initiated coverage on the company, with an “add” recommendation and a target price of RM2.90, thus sending Evergreen shares up by 10 sen, or 5.24%.