Rheinmetall AG

RHM: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€222.00	Hlzp	Kflwzjwd

Rheinmetall: Fair Value Raised to EUR 730 Due to Vehicle Systems Growth and Bradley Deal Potential

Loredana Muharremi

Apr 25, 2024

We're raising Rheinmetall's valuation to EUR 730 from EUR 445 after factoring in the potential US M2 Bradley replacement contract and boosting our long-term earnings-growth rate assumption from 3% to 5%. Without the US contract, the fair value stands at EUR 680, still well above the current market price.

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