This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Brexit p5
Primed for a decline?
Rolls Royce (RR.) / Industrials
Rolls Royce Holdings is perhaps best known as a manufacturer of aircraft engines. The recent price weakness may be attributed to a terrible H2 in 2015 when some bad results and a few profit warnings saw shares crash to historic lows. Importantly, while RR would certainly face increased risks from a UK exit due to its work in defence and aviation, it’s difficult to ascertain just how much has been priced in already. Technical indicators say not a lot, pointing to further downside in the near term, while the company’s fundamentals are also weak. RR has got problems. Time to Sell or go short?
Broker Consensus
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Prepared by Michael van Dulken, Head of Research
