Demand Outlook Remains Strong for European Defense Groups -- Market Talk

Dow Jones06-21

0818 GMT - European weapons manufacturers should continue to enjoy strong orders, Berenberg analysts write in a research note after attending the Eurosatory defense trade show in Paris. "All five companies we met at the event painted a bullish tone on the demand outlook, particularly for combat vehicles, air defense and ammunition," they say, in reference to BAE Systems, Rheinmetall, Babcock International Group, Renk Group and Thales. The analysts say they came away from the event more positive on BAE Systems and Renk. BAE's U.S. armored vehicle programs could benefit from more orders, while Renk showcased its ATREX hybrid transmission systems for main battle tanks and sees a strong pipeline of order opportunities in Europe, South Korea, India and the U.S., the analysts note. (mauro.orru@wsj.com)

(END) Dow Jones Newswires

June 21, 2024 04:18 ET (08:18 GMT)

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