Rheinmetall Jumps 5.6% as New Era of German Defense Spending Begins

• (PLX AI) - Rheinmetall shares rose 5.6% on Monday as the company stands to benefit from a substantial increase in German defense spending, analysts said.
• • Rheinmetall sees revenue growth of 15-20% this year, with an operating margin over 11%, as Germany boosts its budget by 8-10%
• • This is the start of a new era for German defense, with Rheinmetall potential orders of some EUR 42 billion for ammunition, trucks, armored vehicles, tanks & soldier systems, analysts at Bank of America said, reiterating a buy recommendation on the stock
• • Price target raised to EUR 220 from EUR 174, implying 30% upside from Friday's close