Rolls-Royce shares soar to highest level in four years on upgrades
Rolls-Royce shares jumped more than 4% on broker upgrades. IGTV financial analyst @AngelineOng looks at why JP Morgan and Goldman Sachs are making positive sounds about the British engineering titan.
(Video Transcript)
Rolls-Royce shares start accelerating again
Shares, and Rolls-Royce soaring this session. Let's just show you the action here. Last time I checked, it was up around 4%. Let's just see if that level is still in play, and it is up more than that, up more than 4.3%.
Rolls-Royce is getting this boost - its shares hitting the highest level in more than four years - because it has got an upgrade from JP Morgan.
JP Morgan upgrade lifts share price
Just showing you the last time it was at this level, if I may. If I turn this into a weekly chart, you can see how long ago it was when it was last at this level. Goldman Sachs also reinstating the stock with a buy rating with a price target of 370 pence. It's right now at 286.
Now, Rolls-Royce has very, very lofty ambitions. The company has targeted civil aerospace as underpinning its master plan. Rolls-Royce aims to quadruple profit in the next five years by boosting the performance of its jet engines and bearing down on costs. So, the question is whether it can do this in five years.
At the moment, it's enjoying a lot of demand from the civil aerospace side of things, but we have heard Emirates and some other big names saying that they do want to see Rolls-Royce's engines increase efficiency.
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