Berenberg Expects Rheinmetall to Cut FY30 Organic Revenue Outlook at Capital Markets Day; Price Target Lowered

09:56 AM EST, 11/10/2026 (MT Newswires) -- Berenberg reduced its price target on Rheinmetall (RHM.F) to 900 euros from 1,020 euros, as analysts expect the company to present a lower 2030 organic revenue estimate at its capital markets day in late November. "We continue to remain cautious on the execution risk and demand visibility of Rheinmetall over the medium term. Rheinmetall will lower 2030 organic revenue guidance by 14% to cEUR37.6bn (Berenberg: EUR36.7bn; consensus: EUR38.1bn) at the mid-point at the capital markets day (CMD) on 26-27 November, in our view. This new guidance implies a 29% organic revenue CAGR over 2027-30, versus a 22% organic revenue CAGR over 2025-26," according to a Tuesday note. The stock's hold rating was left unchanged. "A guidance reset is required at the CMD to reduce ramp-up risk and factor in a greater element of conservatism into the guidance, in our view," analysts added. Subsequently, Berenberg trimmed its sales, adjusted EBIT and adjusted EPS projections for 2026 to 2028.