RENK : Outperform vs Neutral – When the production ramp-up is transmitting to profitability
>Outperform vs Neutral – Target price of € 33.5 vs € 32.5 - We have upgraded our recommendation to Outperform with a new target price of € 33.5. Renk’s strong underperformance relative to its German peers since its peak at end-March (-7% vs Hensoldt and -22% vs Rheinmetall) provides an opportunity to return to the stock with an attractive valuation and growth profile (2024-27 EPS CAGR of 20.4%). The stock is trading at a 2025 P/E of 19.4x vs 16.9x for Rheinmetall and ...
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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