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BAE target raised by JP Morgan on new contracts looming

Published 21/06/2024, 13:27
© Reuters.  BAE target raised by JP Morgan on new contracts looming
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Proactive Investors - A list of potential new contracts highlighted by BAE Systems (LON:BAES) over the past two weeks has prompted JP Morgan to raise its price target to 1,500p and keep its ‘overweight’ stance.

“We believe there is now a long list of credible opportunities which are not in consensus estimates, “added the broker.

As a result, the bank has increased its 2025-27 EPS forecasts by 2%/ 3%/ 4% on the assumption BAE secures some (but not all) of these opportunities.

“We see upside to our new estimates and price target if BAE secures more of the potential opportunities than we have assumed.

“In particular, we have not modelled the potential upside from Saudi Arabia ordering more Eurofighter aircraft.”

Shares were flat at 1,344p.

Read more on Proactive Investors UK

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