With the Rolls-Royce (LSE:RR.) share price surging almost 90% in the last 12 months, the engineering giant has reached a record-high valuation of £68bn. That’s over 800% higher than just a few years ago, demonstrating the rapid improvements new CEO Tufan Erginbilgiç has delivered across the company. And now, with European defence spending on the rise, a new kindly tailwind is blowing for Rolls-Royce.

So can the engineering giant continue to surge?

The power of exceeding expectations

Analyst consensus for 2024 is that revenue’s expected to reach £17.35bn, and earnings per share will land at 18.18p. Following the group’s latest results, investors were understandably…