LONDON, July 16 (newratings.com) - Analyst Carter Copeland of Lehman Brothers (NYSE:
LEH -
news) maintains his "overweight" rating on BAE Systems
Plc (LSE:
AP16.L -
news) (ticker: BA-GBX), while raising his estimates for the company. The target price has been reduced from 540p to 500p.
In a research note published this morning, the analyst mentions that the company's stable revenue growth profile is not being impacted by the uncertain outlook for the global economy. BAE Systems is anticipated to post its interim earnings significantly ahead of expectations, the analyst adds. The downward revision in the target price reflects deterioration in the market multiple, Lehman Brothers says. The EPS estimates for 2008 and 2009 have been raised from 35.6p to 37.0p and from 40.2p to 41.0p, respectively.
© 2008 New Ratings
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