Things can only go up at Melrose aerospace after barnstorming run
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Narrated by Jessica Newman
A small rocket was placed beneath Melrose Industries’ shares after a leading stockbroker suggested that the good times will keep rolling for the FTSE 100 group.
The former industrial conglomerate, which completed the demerger and separate listing of its engineering business in April last year, has enjoyed a barnstorming run over the past 12 months. Yet instead of advising clients to lock in profits, Andrew Wilson and his team of analysts at JP Morgan named Melrose as a “key pick” for this year.
Given the momentum of last year, Wilson is expecting Melrose to hit the top end of its guidance for the 2023 financial year and has opened a “positive catalyst watch” on the shares ahead of the company’s full-year results on March 7,
