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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.

Melrose Industries remains a Strong Buy after a 20% price decline, as operational performance and aerospace demand remain robust despite negative sentiment. MLSPF's Engines segment drives strong growth and margin expansion, with 11% revenue growth and a trajectory toward 25% margins and £600 million free cash flow. Current valuation reflects a 56% discount to peers and a 30% discount to growth, with 53–82% upside to…

Shares in Melrose Industries PLC (LSE:MRO, OTC:MLSPF) fell as much 7% after a chemical incident at a GKN Aerospace facility in California triggered mass...

Melrose Industries PLC (LSE:MRO, OTC:MLSPF) sought to reassure investors after a chemical incident at a GKN Aerospace facility in California triggered mass evacuations and warnings from emergency crews that a storage tank risked exploding. Authorities said the wider crisis was not yet over, however, warning there remained a risk of a smaller explosion or chemical leak.