Babcock price target raised to 950 GBp from 900 GBp at Jefferies

Jefferies raised the firm’s price target on Babcock (BCKIF) to 950 GBp from 900 GBp and keeps a Buy rating on the shares. After a strong defense rally, and a significant de-rating of civil aerospace names amid tariff concerns, the firm is switching its preference back towards civil, the analyst tells investors in a note on the EU aerospace and defense electronics group. The bulk of the firm’s estimates changes are driven by updated foreign exchange assumptions, though for defense names the firm also rolled forward valuations to 2028 in order to capture more of the segment mid-term growth potential, the analyst noted.