reports
- Research Team
WOOD Daily: CSG NA; DVL PW; KRU PW; HUG PW; MIL PW; BDX PW; APR PW; PL...
HEADLINES: • Czechoslovak Group: ReArming Europe – from ammo to armour (BUY - initiation of coverage) • Develia: strong handovers in 1Q26 (2.3x higher yoy), slightly disappointing sales (10% lower yoy) NEUTRAL • Kruk: 1Q26 trading update NEUTRAL • Kruk: recommends PLN 20 DPS • Huuuge Games: preliminary 1Q26 revenue at USD 56.5m, down 9% yoy and 4% qoq NEGATIVE • Bank Millennium: to book PLN 190m of FX mortgage saga provisions in 1Q26E NEUTRAL • Budimex: FBSerwis to remain within the group NEUTRA...
- Atinc Ozkan
- Peter Palovic
Czechoslovak Group: ReArming Europe – from ammo to armour (BUY - initi...
Following its FY25 earnings release, we initiate coverage of Amsterdam-listed defence contractor Czechoslovak Group (CSG N.V.) with a BUY and a 12M price target (PT) of EUR 31.47/share, offering 26% potential upside. Controlled by Mr. Michal Strnad, CSG is the second-largest supplier of medium/large (M/L) calibre munitions in Europe and a prominent player in land warfare platforms, such as tactical armoured vehicles, IFVs and SPHs. CSG also has a limited, but growing, presence in defence electro...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.