Rheinmetall's New Targets Prompt Upgrade by Deutsche Bank -- Market Talk

Dow Jones11-21 17:14

0914 GMT - Rheinmetall was upgraded to buy from hold by Deutsche Bank. Its analysts say in a note to investors that they had been too conservative in assessing the revenue growth potential of the German arms maker. The group now targets sales of about 20 billion euros by 2027, higher than the 16 billion to 17 billion euros range previously modeled by Deutsche Bank. The key differences in their modeling are faster order to sales, for example in Rheinmetall's electronic solutions, and a higher order intake expected in the vehicle-systems business, the analysts say. Deutsche Bank raised its target price for Rheinmetall to 700 euros from 550 euros. Shares are up 1.17% at 603.4 euros. (cristina.gallardo@wsj.com)

(END) Dow Jones Newswires

November 21, 2024 04:14 ET (09:14 GMT)

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