Deutsche Bank hikes Rolls-Royce price target
![Rolls Royce Tempest | Copyright Rolls Royce rolls royce dl aerospace defence tempest jet airplane technology r](https://img4.s3wfg.com/web/img/images_uploaded/3/5/rolls_royce_dl_aerospace_defence_tempest_jet_airplane_technology_rd_uk_620x350.jpg)
Rolls-Royce Holdings
462.70p
16:49 06/09/24
Deutsche Bank hiked its price target on Rolls-Royce to 555p from 465p on Tuesday as it revisited the valuation ahead of first-half results.
Aerospace and Defence
10,844.84
16:44 06/09/24
FTSE 100
8,181.47
16:55 06/09/24
FTSE 350
4,510.61
16:44 06/09/24
FTSE All-Share
4,467.47
17:09 06/09/24
The bank said the first-quarter update provided evidence that execution at Rolls-Royce is improving.
"While our 2024-2027 estimates are broadly unchanged, our degree of confidence in the company's ability to deliver on its transformation programme has increased," it said.
"Ahead of the H1 release on 1 August, we adopt a scenario described in a previous note: we move our valuation to 2027e, based on increased confidence in 2027 target attainment."
DB rates the shares at ‘buy’.
At 1215 BST, the shares were down 3.8% at 453.40p, taking a hit from the profit warning from Airbus late on Thursday.