Rolls-Royce has been one of the best performers of 2023 so far and is up more than 60% since its low point of last October.
Analysts at Barclays, however, suggest that it might be too late to board now and waiting until the results come out on 23 February might be a better option.
“We advise caution into FY22 results as we see downside risk from 2023 guidance and potential for consensus downgrades as a result,” it said in a note.
The bank likes the recovery story and has the aero engine maker on an ‘outperform’ rating with a 110p price target but adds that any share price weakness post-results.could provide investors with another buying opportunity
Shares today were down 1.3% at 107.3p.