One of Rolls-Royce’s harshest critics has eased his negative stance on the troubled engineer - giving a miserly 1p upgrade on his predictions for the company’s shares.

Ben Filder, aerospace and defence analyst at heavyweight broker Deutsche Bank, has long had a negative view of the blue-chip engineer.

However, in his latest research note the analyst seemed to relent - slightly - raising his target price on Rolls shares from 474p to 475p - almost 200p below their current price.

He retained his sell rating, setting about the company in a deconstruction of its problems titled “Hope vs Reality”.