Berenberg increased its price target for Rolls-Royce from 1,430p to 1,900p. The bank reiterated the company as its top pick.
Engine flying hours grew 5.7% year-on-year in July. This performance outpaced competitors Safran and MTU.
Rolls-Royce operates the youngest large-engine fleet among its European peers. This fleet age supports a durable medium-term growth outlook.
Focus on efficient widebody engines provides resilience against elevated jet fuel prices. Berenberg believes the shares remain attractively valued.