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Rheinmetall stock volatility and analyst coverage

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2026-08-13 05:41 UTC → 2026-08-13 09:22 UTC · added ~~removed~~

Following a period of volatility and mixed analyst signals, Rheinmetall reported significant second-quarter growth. Revenue rose nearly 70% to €3.29 billion, while operating profit more than doubled to €562 million. This surge was driven by increased demand for tanks, armored vehicles, and ammunition linked to the conflict in Ukraine and heightened European defense spending. New orders reached €11.37 billion, contributing to a record backlog of €80.47 billion. Despite these results, the company lowered its full-year revenue forecast to a range of €13.7–€14.2 billion, down from a previous estimate of €14–€14.5 billion. This adjustment follows the German government’s decision to cancel the €15.2 billion F126 destroyer project in favor of the MEKO A-200 project by TKMS. The cancellation is expected to result in a revenue loss of roughly €300 million in the marine segment, though Rheinmetall maintains a long-term goal of expanding marine segment revenue to €5 billion annually by 2030. In response to these developments, analyst opinions remain varied. Warburg Research maintained a “buy” rating with a €1,500 price target, while RBC issued an “Outperform” rating, raising its target to 1,600 euros. More recently, Goldman Sachs set a price target of €2,300 and Deutsche Bank targeted €1,800, whereas JPMorgan lowered its expectation to €1,350. The current analyst consensus sits at approximately €1,700. Despite the forecast adjustment, Rheinmetall shares have shown signs of recovery, trading between €1,166 and €1,175. To support a rapid expansion of defense production capabilities, CEO Armin Papperger announced that Rheinmetall intends to hire approximately 10,000 new employees annually. The company has already received over 160,000 applications. To facilitate this ramp-up, Rheinmetall is investing heavily in physical infrastructure, including factories and production lines for ammunition, propellants, explosives, and rocket motors, while also increasing inventory levels to ensure uninterrupted production.

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