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Investing.com - Rothschild Redburn raised its price target on RENK Group AG (ETR:R3NK) to €74.00 from €62.00 on Thursday, while maintaining a Buy rating on the stock.
The research firm cited RENK’s robust defense backlog as a key factor in the upgraded outlook, noting that the company’s backlog exhibits "exceptional strength" and is positioned to receive an additional boost from an upcoming German mega order.
Rothschild Redburn projects that RENK has sufficient demand to double its transmission production at its Augsburg facility and generate more than €2.8 billion in revenue by 2030.
The firm characterized the recent share price weakness as creating "an attractive entry point" for investors, emphasizing that the broader context supporting European defense spending growth remains unchanged.
RENK Group AG, a German defense and industrial company, specializes in manufacturing transmissions, engines, and other powertrain components for military vehicles and industrial applications.
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