Analysts Are Bullish on Top Industrial Goods Stocks: Rolls-Royce Holdings (RYCEF), Joby Aviation (JOBY)We expect consensus upgrades, especially on FCF, and note that at the FY28 guidance mid-point, Rolls will be generating more FCF than Safran, yet has a market cap 40% lower today. We therefore see significant further upside to the shares, and think they deserve to meaningfully outperform today. Key takeaways FY24 results beat: group revenues grew 16% yoy to £17.8bn, 3% ahead of consensus, driven by Civil Aerospace (+23% yoy, 4% beat) as well as (+8%) which were both modestly 2% ahead. Operating profit Morgan Stanley & Co.