Rolls-Royce upgraded to Buy from Hold at Jefferies

Jefferies analyst Chloe Lemarie upgraded Rolls-Royce to Buy from Hold with a price target of 125 GBp, up from 90 GBp. The analyst sees a number of positive catalysts for the group in 2023 including potential credit upgrades and further flight hours recovery which should build confidence on the group’s mid-term potential.