Rheinmetall Gets Another Peak Target on German Election Boost
- UBS upgrades to buy, sets Street-high target for surging stock
- Analysts see higher spending on defense after German election
Photographer: Emmanuel Dunand/AFP/Getty Images
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Defense firm Rheinmetall AG may be one of the biggest beneficiaries from the German election, with analysts at UBS Group AG predicting 35% more upside even after the stock’s recent surge to a record high.
Analysts at the bank became the latest to increase their twelve-month target on Monday, saying that spending on defense is set to rise following Sunday’s poll. The firm raised its rating on Rheinmetall to buy from neutral and set a new target of €1,208. That’s the highest among analysts tracked by Bloomberg.