Rheinmetall has surpassed Volkswagen in market value, reaching €56.6 billion ($61.5 billion) as investor demand for defense stocks rises. European defense stocks have surged amid concerns over U.S. support for Ukraine and Europe’s increasing military spending commitments. Rheinmetall’s stock has more than doubled in 2024 and grown over twelve-fold since Russia’s 2022 invasion of Ukraine. Jefferies analysts rated Rheinmetall as a “buy” and its top pick, while Renk was also rated “buy” and Hensoldt “underperform”. Rheinmetall forecasts a 25% to 30% sales increase in 2025, following €10 billion in revenue for 2024.
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