Rolls Royce gained as much as 24% today, on the back of the earnings beat and renewed hope for a bright future following the new CEO’s ongoing transformation review. Pre-tax profit of £206m was double the market’s expectations and FCF improved by £2bn. FY22 adjusted income and FY23 guided operating profit are in line with our estimates and, hence, we will not make any significant changes to our current target price.
23 Feb 2023
FY22: CEO’s optimism translated into the market’s optimism
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FY22: CEO’s optimism translated into the market’s optimism
Rolls-Royce Holdings plc (RR:LON) | 416 -0.8 (0.0%) | Mkt Cap: 35,018m
- Published:
23 Feb 2023 -
Author:
Sejal Varshney -
Pages:
3
Rolls Royce gained as much as 24% today, on the back of the earnings beat and renewed hope for a bright future following the new CEO’s ongoing transformation review. Pre-tax profit of £206m was double the market’s expectations and FCF improved by £2bn. FY22 adjusted income and FY23 guided operating profit are in line with our estimates and, hence, we will not make any significant changes to our current target price.