Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

BAE Systems in demand after 'very appealing' JP Morgan note

Published 07/10/2022, 15:31
Updated 07/10/2022, 15:42
© Reuters BAE Systems in demand after 'very appealing' JP Morgan note

© Reuters BAE Systems in demand after 'very appealing' JP Morgan note

BAE Systems has received a price target upgrade from JP Morgan, with the US bank rating the shares as very appealing in the current fragile economic environment.

Target is now 1,000p, up 4%, versus the market price of 842.6p, with JPM’s comments sending the weapons maker to the top of the FTSE 100.

The bank has raised its EPS estimates by 4-5% pa through 2023-25E helped by a stronger US$ and lower UK corporation tax.

“We also see potential for further upside if there is an improvement in market conditions in Saudi Arabia and from higher UK defence spending.

“BAE offers defensive growth, a solid balance sheet, and a 2022 forecast dividend yield of 5%,” concluded the bank.

Read more on Proactive Investors UK

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.