City analysts evidently can’t decide what’s what for Rolls-Royce as UBS today upgraded the British engineer just a day after Barclays came out with a downgrade.
Both agreed the re-opening of China after the mass Covid lockdowns could be a boon, particularly if, like Rolls, you are paid per hour your jet engines are in use. However, Barclays sees this as largely priced in with the shares whereas UBS analysts reckon the catalysts are under appreciated.