UBS analyst Ian Douglas-Pennant upgraded Rolls-Royce to Buy from Neutral with a price target of 200 GBp, up from 150 GBp. The analyst believes the importance of China’s re-opening has been underappreciated in the shares. Rolls-Royce is "abnormally cheap" despite the China re-opening, the analyst tells investors in a research note.
Published first on TheFly
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