Rolls-Royce upgraded to Overweight from Equal Weight at Barclays

Barclays upgraded Rolls-Royce to Overweight from Equal Weight with a price target of 270 GBp, up from 239 GBp. The shares have de-rated 10% in the past month, a function of de-grossing and longer cycle pressure, which presents a buying opportunity ahead of the November 28 capital markets day catalyst, the analyst tells investors in a research note.