Rolls-Royce: UBS raises target price
(CercleFinance.com) - While maintaining its "neutral" rating on the Rolls-Royce share, UBS has raised its corresponding target price from 111 pence to 119 pence, which now suggests just 2% upside potential for the British aircraft engine manufacturer's shares.
In its latest forecasts for Rolls-Royce, analysts "remain cautious on 2021 dynamics on long-haul travel", a market that it believes is unlikely to pick up in 2021.
However, UBS believes that "2022-23 should benefit from higher restructuring efforts", an internal element that it believes could support the valuation.
The Rolls-Royce share is having a bit of a rough ride on Tuesday, however - down over 4% in morning trading in London.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In its latest forecasts for Rolls-Royce, analysts "remain cautious on 2021 dynamics on long-haul travel", a market that it believes is unlikely to pick up in 2021.
However, UBS believes that "2022-23 should benefit from higher restructuring efforts", an internal element that it believes could support the valuation.
The Rolls-Royce share is having a bit of a rough ride on Tuesday, however - down over 4% in morning trading in London.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.