Though a lot has changed over the past 17 years, one thing has remained constant: Rolls-Royce having at least one “sell” rating. That is until yesterday, when David Perry, an aerospace and defence analyst at JP Morgan and Rolls’ last naysayer in the City, did away with his bearish “underweight” rating.
It means that for the first time since 2006, no analyst in the Square Mile is urging clients to dump their Rolls-Royce shares. Perry’s gripe had been that Rolls was not charging enough for making and servicing its engines. Indeed, it was a view shared by Tufan Erginbilgic, who took over as chief executive at the beginning of this year. Now, under its new boss, Perry estimates that Rolls has lifted its prices by
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