Rolls-Royce: Penalized by a degradation of broker – BFM Bourse

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(CercleFinance.com) – Rolls-Royce down 3.8% in London, penalized by a deterioration of opinion at Credit Suisse directly from 'outperformance' to 'underperformance' on the title of the engine manufacturer, with a target price reduced from 1070 to 245 pence.

The broker indicates lowers its hypothesis of free cash flow by 2024 by around 60%, to 0.8 billion pounds sterling, and warns that 'the risks are directed downwards' on its new target price, which n 'indicates no potential for progress.

'As a result, Rolls-Royce is likely to underperform its European peers as Airbus, which has both the potential to significantly increase its share price and exposure to the more attractive market for narrow-body aircraft, 'he continues.

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