Edison Expands International Aerospace & Defence Large Cap Presence With Launch of Full Coverage of Rolls-Royce

   Edison Expands International Aerospace & Defence Large Cap Presence With
                    Launch of Full Coverage of Rolls-Royce

  PR Newswire

  LONDON, May 15, 2013

LONDON, May 15, 2013 /PRNewswire/ --

Edison Investment Research, a leading international investment research firm,
announces the initiation of full coverage of Rolls-Royce (LSE: RR), a global
power systems business with activities across civil aerospace, defence, marine
and energy markets.

 (Logo: http://photos.prnewswire.com/prnh/20130417/608168 )

Edison has recently published a comprehensive report examining the investment
merits of Rolls-Royce, focusing on the group's potential to benefit from
delivery of its £60bn order book, more than doubling revenues over the next
decade. In his report, on the shoulders of giants, Edison's head of
Industrials, Roger Johnston, argues that the group is building on its
consistent strategy and benefiting from the significant investment in R&D and
manufacturing facilities over the past decade to deliver increasing numbers of
high-value Trent engines. As a result, Rolls-Royce has the opportunity to
deliver significant operational gearing and bottom-line growth. In addition,
management focused on ensuring a culture of delivery and on customers
(delivering on promises), concentration (where to invest) and cash/cost
(improving financial performance) is designed to drive operational margins and
cash flow toward best in class across the group over the next decade.
Modelling several scenarios by which this strategy could be achieved, Edison
values Rolls-Royce between 1,419p/share, a 17% premium to the current share
price, and 1,714p/share, a 41% premium to the current share price.

For the full report see:

The launch of coverage on Rolls-Royce is part of a programme of research
initiations on industrials companies exposed to global market opportunities.
Edison provides detailed research coverage on more than 50 industrials and
support service companies in Europe, North America and Australia. Its
industrials team has a range of coverage across small-, mid- and large-cap
companies active in subsectors such as Aerospace & defence, Speciality
materials, Alternative energy, Building materials and Industrial support
services, allowing a complete understanding of industrial supply chains. All
reports published by Edison are available to download free of charge from its
website http://www.edisongroup.com .

About Edison Investment Research

Edison, the investment intelligence firm, is the future of investor
interaction with corporates. Our team of over 100 analysts and investment
professionals works with leading companies, fund managers and investment banks
worldwide to support its capital markets activity. We provide services to more
than 400 retained corporate and investor clients from our offices in London,
New York, Berlin, Sydney and Wellington. Edison is authorised and regulated by
the Financial Services Authority (
http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584 ).

Edison is not an adviser or broker-dealer and does not provide investment
advice. Edison's reports are not solicitations to buy or sell any securities.


About Rolls-Royce

Rolls-Royce is a UK FYSE-100 listed, global power systems company active in
the civil aerospace, defence, marine and energy markets. It provides power
systems (engines, controls and complex sub-systems) for both original
equipment manufacturers (48% of 2012 sales) and aftermarket services (52%).
The group employs more than 45,000 people across 50 countries worldwide in
engineering and service centres across all divisions. This reach is mirrored
by the balanced sales profile across North America (36% of 2012 sales), Europe
(31%), Middle East and Asia (18%), China (9%) and RoW (6%).

For more information please contact:

Roger Johnston Edison Investment Research   +44-(0)-20-3077-5722
Press spacebar to pause and continue. Press esc to stop.