JPMorgan Chase & Co. Lowers Rolls-Royce (RR) to Underweight

Rolls-Royce (LON:RR) was downgraded by stock analysts at JPMorgan Chase & Co. to an “underweight” rating in a report issued on Friday. They currently have a GBX 840 ($10.87) price target on the stock, down from their previous price target of GBX 965 ($12.49). JPMorgan Chase & Co.’s target price indicates a potential downside of 19.85% from the company’s current price.

RR has been the subject of several other reports. Citigroup restated a “buy” rating and set a GBX 1,083 ($14.02) target price on shares of Rolls-Royce in a research note on Wednesday, April 18th. Liberum Capital reiterated a “hold” rating on shares of Rolls-Royce in a report on Thursday, May 3rd. Barclays reiterated an “underweight” rating and set a GBX 675 ($8.74) price target on shares of Rolls-Royce in a report on Thursday, May 3rd. Credit Suisse Group lowered their price target on shares of Rolls-Royce from GBX 785 ($10.16) to GBX 780 ($10.10) and set an “underperform” rating for the company in a report on Monday, June 4th. Finally, Morgan Stanley decreased their price objective on Rolls-Royce from GBX 920 ($11.91) to GBX 900 ($11.65) and set an “equal weight” rating for the company in a report on Friday, June 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of GBX 956.73 ($12.38).

Shares of RR stock opened at GBX 1,048.05 ($13.57) on Friday. Rolls-Royce has a 1 year low of GBX 733.50 ($9.50) and a 1 year high of GBX 994.50 ($12.87).

In other Rolls-Royce news, insider Ruth Cairnie purchased 196 shares of the firm’s stock in a transaction on Monday, July 9th. The stock was purchased at an average cost of GBX 991 ($12.83) per share, for a total transaction of £1,942.36 ($2,514.38). Also, insider Nicholas (Nick) Luff purchased 8,050 shares of the firm’s stock in a transaction on Friday, August 3rd. The shares were acquired at an average price of GBX 1,092 ($14.14) per share, with a total value of £87,906 ($113,794.17). Insiders purchased 8,572 shares of company stock valued at $9,281,266 over the last 90 days.

Rolls-Royce Company Profile

Rolls-Royce Holdings plc, an engineering company, develops, manufactures, markets, and sells power and propulsion systems in the United Kingdom and internationally. The company's Civil Aerospace segment provides aero engines for large commercial aircraft, regional jet, and business aviation markets, as well as aftermarket services.

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