Rheinmetall Shares Trading Close to a Bear Case, Bernstein Says
A HERO-120 loitering munition system at the Rheinmetall AG stand during a defense exhibition, in Madrid.
Photographer: Angel Garcia/BloombergOne of the few analysts without a bullish stance on German tank and ammunition maker Rheinmetall AG has thrown in the towel, saying recent declines have left the stock trading “close to a bear case.”
Bernstein’s Adrien Rabier on Thursday lifted his view to outperform, saying a recent 20% correction left “an extraordinary company at an ordinary valuation.”