Berenberg: Indra Sistemas Set to Meet FY26 Targets After Q2 Revenue Beat; Estimates Raised

08:11 AM EDT, 07/27/2026 (MT Newswires) -- Indra Sistemas (IDR.MC) is "well on track" to meet its full-year 2026 financial targets after the company delivered stronger-than-expected revenue in the second quarter, Berenberg said in a note published Monday. The Spanish IT and defense group's revenue climbed to 1.84 billion euros in the quarter from the year-ago 1.29 billion euros, 3% higher than market forecasts, supported by a surge in revenue at its defense business. "The results were presented to the investment community by the recently appointed CEO, Josep Maria Recasens, who used his first earnings call to emphasise the importance of executing on the company's record-high order backlog in the short term. As we highlighted in our last note, since the start of the year most of investors' attention has been shifting to Indra's governance issues," the research firm wrote. "Ultimately, restoring confidence hinges on consistent execution, and the Q2 update should go some way toward achieving that." Taking the results into account, analysts raised their 2026 EPS and sales estimates by 6.5% and 3%, respectively, amid a model update. The forecasts for both metrics were also upwardly revised for 2027 and 2028. The stock's buy rating and 70 euro price target were maintained.