Rheinmetall shares fall as analysts cut ratings after NATO summit

Analysts at MWB Research downgraded Rheinmetall and removed its buy recommendation following the NATO summit, citing a shift in defence spending toward air‑defence, drones and reconnaissance. The downgrade cut the price target to €1,150 and contributed to a 4.3% drop in Rheinmetall’s share price on the XETRA market.

The analysts also warned that the German armed forces’ large‑scale Arminius procurement programme, centred on Boxer armoured vehicles, may be over‑valued. In the same context, Rheinmetall announced a joint venture with MBDA Deutschland to develop a high‑energy laser weapon system for the German navy, a project worth mid‑three‑digit millions of euros and slated for operational use by 2029.