ROLLS-ROYCE : UBS confirms its buy recommendation on the stock14 Jun 2024 20:22
June 14, 2024 at 07:14 am EDT
Share
UBS confirms its buy recommendation on Rolls-Royce shares, with a target of 550 pence, representing a potential upside of 18%. The research firm had raised its target from 400 pence to 550 pence at the end of March.
' Flight hour estimates are below expectations and our estimate of 106% now seems too high. This does not change the company's position, for us and for most investors' says UBS.
' We have growing confidence in Rolls Royce's turnaround, with the outlook up on consensus estimates for 2024 and 2027' adds the research house.
For 2024, the British engine maker is now targeting current operating income of between £1.7 and £2 billion, and FCF of between £1.7 and £1.9 billion.