Analysts at Barclays reiterated their ‘overweight’ recommendation for shares of BAE Systems, predicting that the defence engineering firm’s order intake would accelerate throughout 2022 due to the escalation of the conflict in Ukraine.
Going into the company’s interims on 28 July, they also predicted that guidance for full-year earnings per share would be lifted by 2-4% due to weakness in cable.
Each five cent movement in the exchange rate raised or decreased EPS by 1.0p, they explained.
They were also anticipating a buyback extension following completion of the triennial pension valuation.
The analysts also stood by their 900.0p target price for the shares.
