Babcock price target raised to 550 GBp from 500 GBp at Jefferies

Jefferies analyst Chloe Lemarie raised the firm’s price target on Babcock (BCKIF) to 550 GBp from 500 GBp and keeps a Buy rating on the shares ahead of the company’s H1 results report in November. The firm said the company’s recent trading updated already pointed to “solid” organic growth over the first five months, offsetting disposals, adding that the stock trades at a significant 35% discount to BAE Systems (BAESY).