MARKET TALK: Investec Upgrades Rolls-Royce To Buy From Hold

2nd Jul 2010 09:51

0851 GMT [Dow Jones] Investec Securities upgrades Rolls-Royce (RR.LN) to buy from hold, noting the recent market-led selloff that has seen the stock underperform and the brokerage's increasing conviction in the fundamental investment case. Says through a difficult downturn Rolls-Royce has proven its highly defensive business model. "With further positive earnings momentum in prospect, we view the current price as a good opportunity to invest in what we believe should be a core holding in the A&D sector." Has 630p price target on the stock. Shares +1.8% at 545p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 02, 2010 04:51 ET (08:51 GMT)