BofA backs Melrose Industries with shares near year low
Key takeaways
- Melrose, which owns the GKN Aerospace engineering business, is due to report half-year results with its stock near a 12-month low.
- The broker said the underlying picture was stronger than the share price suggested, pointing to an April trading update that showed group revenue up 11% and a rise in adjusted operating profit across both divisions.
- The engines business remains the main driver, having grown 20% in the first quarter, and Bank of America expects 18% growth for the first half.
Bof A backs Melrose Industries with shares near year low Bof A backs Melrose Industries with shares near year low Proactive uses images sourced from Shutterstock Proactive Thu, June 18, 2026 at 9:32 PM GMT+7 2 min read BAC MRO.L ^FTSE MLSPF Bank of America has reiterated its buy rating and 720p price target on Melrose Industries PLC (LSE:MRO, OTC:MLSPF), the FTSE 100 aerospace group, arguing the shares look cheap as they trade close to their lowest level this year.
Melrose, which owns the GKN Aerospace engineering business, is due to report half-year results with its stock near a 12-month low.
The broker said the underlying picture was stronger than the share price suggested, pointing to an April trading update that showed group revenue up 11% and a rise in adjusted operating profit across both divisions.