Goldman Sachs analyst: Rheinmetall ahead of strong quarter

Goldman Sachs analyst: Rheinmetall ahead of strong quarter

Goldman Sachs Group Inc. analyst Victor Allard has conducted extensive research on Rheinmetall shares and confirms a Buy rating with a price target of 606 euros ahead of expected quarterly results on May 14th. The forecast for the company is based on positive expectations regarding incoming orders from the defense company and auto supplier. Analyst Victor Allard expects a strong quarter, although deliveries were likely weak in the quarter, which is seen as typical seasonality in this business area.

The Rheinmetall share fell by 2.69 percent to 506.60 euros in XETRA trading. Nevertheless, there is an upside potential of 17.72 percent based on the set price target. 73,274 shares of the stock have been traded so far this day, and the stock has recorded a gain of 79.4 percent since the beginning of 2024. The balance sheet for the first quarter of 2024 is expected to be published on May 14, 2024.

There is also a further decline in trading, with the shares falling by 2.96 percent to 505.20 euros. Goldman Sachs' analysis is based on a detailed examination of Rheinmetall's corporate performance and market prospects. The assessment of business potential is part of an ongoing analysis of the company and its position in the market environment.

Overall, Rheinmetall shares remain stable despite the current pressure due to Goldman Sachs' Buy rating and analyst Victor Allard's positive outlook for the first quarter. Investors are keeping an eye on the price target of 606 euros and are eagerly awaiting the publication of the quarterly figures to gain further insights into the company's performance.