Rolls-Royce
£59m civil aerospace order book
Some analysts were wondering over the weekend at what level Rolls-Royce shares should be considered a “buy” again. I have argued here that they look seriously undervalued, although I confess I do not see them going to the £12.71 level by the end of this year at which I tipped them at the start of it.
The long-term prospects for the group, which gets almost half its revenues from the burgeoning civil aircraft industry and has strong positions on the Boeing 787 and Airbus A350 programmes, look good.
The profit warning at the end of last week, though, looks like one warning too many after a similar downgrade in February in markets that are deeply unforgiving. It was also