BAE Systems: shares rise, broker upgrades to 'buy'
(CercleFinance.com) - Shares in BAE Systems are up 2% on Tuesday as a broker's upgrade highlighted the growth potential of the British defence contractor.
Germany's Berenberg upgraded its rating on BAE from "hold" to "buy" and has lifted its target price for the share from 600 pence to 700 pence, saying that BAE's growth outlook has improved significantly and that the defence market remains supportive.
These factors are not reflected in the share's current valuation, the broker said, prompting the analyst to expect its shares to outperform over the next year.
In late-morning trading shares in BAE, which have lost 2% over the past year, are up 2% at 617.4 pence.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Germany's Berenberg upgraded its rating on BAE from "hold" to "buy" and has lifted its target price for the share from 600 pence to 700 pence, saying that BAE's growth outlook has improved significantly and that the defence market remains supportive.
These factors are not reflected in the share's current valuation, the broker said, prompting the analyst to expect its shares to outperform over the next year.
In late-morning trading shares in BAE, which have lost 2% over the past year, are up 2% at 617.4 pence.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.