Rheinmetall Wins Fresh Armoured Vehicle Order as Brokerages Trim Price Targets Ahead of Capital Markets Day
Published on 10/29/2026 at 18:10 | Editorial boerse-global.de
Rheinmetall picked up a new order for wheeled armoured vehicles on Tuesday, giving the German defence contractor a timely piece of good news as two major brokerages have been cutting their price targets on the stock in the run-up to its capital markets day.
OCCAR, the European procurement agency, placed an order with Artec — the joint venture between Rheinmetall and KNDS Deutschland — for a further 69 Boxer wheeled armoured vehicles. Rheinmetall puts the value of its share of the contract in the mid three-digit millions of euros. The stock rose as much as 4.9% on the news, with other reports putting the gain at 3.7%.
Of the vehicles ordered, 35 are destined for the German armed forces and 34 for the Dutch military. Deliveries are scheduled to run from May 2032 to November 2033. The contract was awarded to the joint venture, and the figure cited refers to Rheinmetall's own portion rather than the total order value.
Brokerages Take a More Cautious View
The order lands against a backdrop of tempered expectations on the analyst side. Deutsche Bank Research lowered its price target for Rheinmetall on Tuesday from EUR 1,800 to EUR 1,650, according to media reports, while keeping its "Buy" rating. Analyst Christoph Laskawi attributed the move to an "expectation dilemma" ahead of the capital markets day.
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UBS had already trimmed its own target, cutting it from EUR 1,600 to EUR 1,360 on 19 October, according to media reports, with the "Buy" rating left in place. Analyst Sven Weier pointed to the expectation that Rheinmetall should set conservative targets at its capital markets day.
That event is scheduled for 26 and 27 November in Hamburg. Before then, Rheinmetall is due to publish its third-quarter 2026 report on 5 November.
Shipyard Deal and UK Production Ramp-Up
Beyond the vehicle order, Rheinmetall has been busy on other fronts. On 20 October, the company and Swiss shipping group MSC won an auction for the Romanian Mangalia shipyard, with a purchase price of EUR 138 million. The site is intended to host both civilian and military shipbuilding activities, and the yard is expected to play a role in the construction of four Romanian naval vessels.
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Roughly a week ago, Rheinmetall also opened its "UK Gun Hall" in Telford, marking the return of independent large-calibre weapons manufacturing to the UK. At full capacity, the facility is designed to produce up to 245 barrels and more than 50 breech mechanisms a year, supporting more than 100 highly qualified jobs — the company's stated target for the production ramp-up.
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