Rolls-Royce shares target GBX 1,650 as rally extends
Rolls-Royce shares continue to show strong momentum, further supported by JPMorgan’s decision to raise its price target to GBX 1,800. After gaining more than 13% since July 29, the stock is approaching the GBX 1,600–1,650 zone, although overbought conditions are increasing the risk of a short-term correction.
In addition to positive post-earnings sentiment, Rolls-Royce shares received further support from a price-target increase by JPMorgan Cazenove. On August 4, the bank raised its target from GBX 1,625 to GBX 1,800 while maintaining an Overweight rating.
The revised target reflects continued analyst optimism following the company’s strong first-half results and upgraded financial guidance.
Strong momentum supports a move toward GBX 1,650
The scenario outlined previously has fully materialized, with Rolls-Royce shares establishing a sustained position above GBX 1,510 and moving toward the medium-term target range of GBX 1,600–1,650.The stock has gained more than 13% since July 29, increasing the risk of a short-term correction as it approaches the psychological GBX 1,600 level.
The RSI (14) has also entered overbought territory, which could limit further upside in the near term.
The base-case scenario remains a move into the GBX 1,600–1,650 range, followed by a correction toward GBX 1,510.
Strong fundamentals support Rolls-Royce
The fundamental backdrop for Rolls-Royce remains positive, supported by strong first-half results and upgraded financial guidance. JPMorgan’s decision to raise its price target to GBX 1,800 provides further confirmation of market confidence in the company’s medium-term outlook.
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