Rolls-Royce Share Price Today (21 November 2025): LON: RR Slides Despite Moody’s Upgrade and Emirates Deal

Rolls-Royce Holdings plc (LON: RR.) shares are easing back today after a powerful run in 2025, even as a wave of positive news — including a credit rating upgrade and fresh aviation deals — continues to reshape the long‑term investment story.

Rolls-Royce share price today: 21 November 2025 snapshot

As of the London close on 21 November 2025, Rolls-Royce Holdings plc finished around 1,044p per share, down roughly 3.3% on the day. ^[1]

Key intraday metrics:

Closing price: about 1,043.97p
Daily move: approximately -3.25% versus Thursday’s close near 1,079p ^[2]
Day’s trading range: roughly 1,021p to 1,056.5p ^[3]
Volume: around 7.2 million shares, close to the stock’s average daily volume of about 7.3 million ^[4]

Even after today’s pullback, Rolls-Royce remains one of the FTSE 100’s standout performers:

52‑week range: about 529p to 1,195p ^[5]
1‑year performance: roughly +90% over the past 12 months ^[6]

In short, today’s red day comes after an exceptional rally that has seen the shares more than double in a year.

Why is Rolls-Royce stock down today?

There is no single company-specific negative headline on 21 November to explain today’s drop. Instead, the move looks like a mix of profit‑taking, consolidation after a huge run, and digestion of a dense cluster of recent announcements.

Some factors likely in play:

“Buy the rumour, sell the news” after upgrades and deals
- Moody’s has just upgraded Rolls-Royce’s long‑term issuer rating to Baa1 from Baa2, with a positive outlook, citing strong operating performance, improving leverage and robust cash generation. ^[7]
- RBC Capital this week initiated coverage with an “Outperform” rating and a price target of £12.75 (1,275p), highlighting better execution, strong civil engine economics and upside from the UltraFan engine and Small Modular Reactor (SMR) nuclear programme. ^[8]
- Big positive catalysts like these can attract short‑term traders — but once the news is out, they often lock in gains, adding selling pressure.
Cooling off after a steep climb
Analysts note that Rolls-Royce shares have dipped around 10% from their late‑September peak, even after dramatic gains earlier in the year. ^[9] A stock that has nearly doubled in 12 months is naturally more vulnerable to bouts of volatility as investors periodically re‑balance.
Broader market tone
While today’s move is company‑specific, it’s happening against a backdrop of choppy global equity markets, where high‑beta industrial and aerospace names often move more than the wider index. ^[10]

Put together, today looks more like a pause in a strong uptrend than a shift in the fundamental narrative.

The big news investors are trading on this week

Although the price is lower today, the fundamental news flow around Rolls-Royce is overwhelmingly positive. Here are the main developments feeding into the share price on and around 21 November 2025.

1. Moody’s upgrades Rolls-Royce to Baa1 with positive outlook

On 20 November 2025, Moody’s upgraded Rolls-Royce plc from Baa2 to Baa1, maintaining a positive outlook. ^[11]

Key points from the ratings commentary and related coverage:

The upgrade reflects strong operating performance, rapid deleveraging and healthy liquidity, including cash and undrawn credit facilities. ^[12]
Moody’s suggests further upgrades are possible if Rolls-Royce meets or beats its medium‑term profit targets earlier than planned, while keeping leverage low and cash flow strong. ^[13]

For equity investors, this matters because:

A higher rating should lower borrowing costs, improving the economics of future investment and refinancing.
It reinforces the view that Rolls-Royce’s transformation is structural, not just cyclical.
It adds credibility to management’s guidance and long‑term strategy.

Interestingly, today’s share price dip arrives just after this upgrade — a classic example of the market pricing in good news early.

2. Emirates to join Rolls-Royce’s global MRO network from 2027

On 20 November 2025, Rolls-Royce announced a major Memorandum of Understanding with Emirates at the Dubai Airshow. ^[14]

Highlights:

Emirates will build a new Maintenance, Repair and Overhaul (MRO) facility in Dubai to service its own Trent 900 engines on the Airbus A380 fleet, with the first engines expected in 2027. ^[15]
Rolls-Royce’s TotalCare service agreement for Emirates’ Trent 900 fleet has been extended into the 2040s, securing a very long‑dated stream of service revenues. ^[16]
Emirates will handle fan case repairs at its new facility, while Rolls-Royce retains module repair capabilitieswithin its global network, effectively expanding overall MRO capacity. ^[17]

Strategically, this:

Locks in decades of high‑margin aftermarket work tied to Emirates’ decision to keep flying the A380 well into the 2040s.
Supports Rolls-Royce’s stated goal of significantly expanding global MRO capacity by 2030. ^[18]
Deepens its relationship with one of the world’s most important widebody operators.

3. Etihad’s widebody expansion powered by Trent engines

Earlier in the week, Rolls-Royce reported that Etihad Airways intends to expand its widebody fleet with aircraft powered exclusively by its Trent engines. ^[19]

According to the 18 November 2025 press release and related coverage:

Etihad plans to acquire:
- 15 Airbus A330neo aircraft powered by Trent 7000 engines
- 7 Airbus A350‑1000 and 10 A350F freighters powered by Trent XWB‑97 engines ^[20]
Rolls-Royce is investing around £1 billion across its modern Trent portfolio to improve durability and increase time-on-wing by an average of about 80%, with a significant portion delivered during 2025 and further gains by 2028. ^[21]

For Rolls-Royce, this:

Adds to an already bulging widebody order book.
Reinforces the Trent 7000 and Trent XWB as the engines of choice for premium long‑haul carriers.
Supports the medium‑term outlook for Civil Aerospace profit and cash flow as flying hours and shop visits grow.

4. Trading update: strong 2025 performance and £1bn buyback

On 13 November 2025, Rolls-Royce issued a trading update covering performance to 31 October 2025. Management said trading was in line with expectations and reaffirmed full‑year 2025 guidance, despite ongoing supply chain issues. ^[22]

Key guidance points:

Underlying operating profit: expected between £3.1bn and £3.2bn
Free cash flow: targeted at £3.0bn to £3.1bn ^[23]

The update also highlighted:

A strengthened balance sheet, helped by robust cash delivery and supported by an earlier S&P upgrade to BBB+(investment grade) in August. ^[24]
Rapid progress on the £1bn share buyback, with about £0.9bn completed by the end of October and additional “transaction in own shares” notices continuing into November. ^[25]
A confirmed date for full‑year 2025 results on 26 February 2026. ^[26]

This update underpins the improved credit ratings and is central to why analysts see Rolls-Royce as mid‑cycle, not late‑cycle, despite the share price rally.

5. Analyst sentiment: Outperform ratings and 12‑month upside

The analyst community remains broadly constructive:

RBC Capital:
- Rating: Outperform
- Price target: £12.75 (1,275p), implying meaningful upside from today’s ~1,044p. ^[27]
- Thesis: stronger management, Civil Aerospace as the main value driver, plus long‑term upside from UltraFan and SMR nuclear. ^[28]
Consensus forecasts:
A recent analysis of City estimates published on 21 November notes that the average 12‑month price target implies around 16.4% upside for Rolls-Royce shares from levels before today’s pullback. ^[29]

While targets and ratings differ by house, the broad theme is consistent: Rolls-Royce is no longer a turnaround “hope story” but a cash‑generative, growth‑oriented blue chip — priced accordingly.

How today’s move fits into the bigger picture

Looking at the last few weeks in context:

The shares have retreated from recent highs near 1,200p to just over 1,040p, a drop of about 13% from the peak but still close to the upper end of their 52‑week range. ^[30]
Over the past month, daily closes show a gradual drift lower after the explosive rally earlier in 2025, even as fundamental news has remained positive. ^[31]

In practice, this looks like a classic consolidation phase:

Long‑term holders are sitting on large gains and may be trimming positions.
New investors are weighing how much of the good news is already in the price.
Short‑term traders are responding to headlines and chart levels, amplifying daily volatility.

Given the scale of the 12‑month rally, a 3–4% down day is not unusual and doesn’t, by itself, signal a change in the long‑term trend.

Key risks and themes to watch

Despite the upbeat narrative, investors tracking the Rolls-Royce share price into late 2025 should keep an eye on several risk factors:

Execution risk on transformation and cost targets
Management has set ambitious profitability and cash‑flow goals, with Moody’s now expecting some of the 2028 profit milestones to be achieved by 2026. ^[32] Any slippage on costs, pricing, or engine reliability could dent confidence.
Civil Aerospace cycle and widebody demand
New orders from Etihad and strong relationships with Emirates are positive, but the business still depends on global long‑haul travel growth and the health of airline balance sheets. ^[33]
Supply chain and inflation pressures
The trading update explicitly referenced continuing supply chain challenges, even as guidance was maintained. ^[34] Persistent bottlenecks could affect deliveries, time-on-wing improvements and service profitability.
Valuation risk after a 90%+ rally
With the share price roughly doubling year‑on‑year, Rolls-Royce is no longer obviously cheap. ^[35]Future upside will depend on continued delivery, not just multiple expansion.
Regulation and decarbonisation
As a major aero‑engine maker pushing technologies like UltraFan and SMR nuclear, Rolls-Royce is exposed to evolving climate regulation, certification risk and public scrutiny. ^[36]

What today’s Rolls-Royce share price means for investors

From an investor’s perspective, 21 November 2025 looks less like a turning point and more like a reality check after months of euphoria:

The fundamentals — stronger balance sheet, higher credit ratings, robust guidance, and fresh civil aerospace wins — are moving in the right direction. ^[37]
Analyst sentiment remains positive, with fresh Outperform ratings and double‑digit percentage upside implied by average targets. ^[38]
Yet the valuation and share price already reflect a huge amount of good news, leaving the stock vulnerable to short‑term swings when traders lock in profits or macro nerves flare up.

For existing shareholders, today’s move is a reminder that volatility is the price of admission for holding a high‑beta, high‑expectation name like Rolls-Royce. For potential buyers, the latest pullback may make the entry point more attractive — if you believe the company can continue to beat its ambitious profit and cash‑flow goals.

Either way, the most important dates on the calendar now are:

Ongoing buyback updates through late 2025, which can provide a technical floor via steady demand for shares. ^[39]
Full‑year 2025 results on 26 February 2026, where investors will look for confirmation that Rolls-Royce is not just meeting but potentially front‑loading its medium‑term targets. ^[40]

This article is for informational purposes only and does not constitute investment advice. Always do your own research or consult a qualified financial adviser before making investment decisions.