MTU Aero Engines stock gains 0.8 percent as Citi turns bullish

MTU Aero Engines stock (ISIN DE000A0D9PT0) traded at EUR 366.60 on Xetra on September 24, 2026, up 0.80 percent or EUR 2.90 from the previous close. Investing.com reported that Citi upgraded the company to Buy and raised its price target from EUR 334 to EUR 445 on September 24, 2026.

Citi sees cash conversion inflection

Citi linked its upgrade to an expected improvement in cash conversion as MTU increases the share of long-term service agreements. The target of EUR 445 stands EUR 78.40 above the Xetra price of EUR 366.60, a gap of 21.4 percent.

The upgrade adds a sharper valuation argument to the current debate. Citi projected compound annual EBIT growth of 8.5 percent from 2026 through 2031, according to the September 24 report. The forecast is a forward estimate, not a reported result.

First half revenue rose 13 percent

MTU entered the second half of 2026 with higher operating figures. Its first half revenue increased 13 percent year over year to EUR 4.7 billion, while adjusted EBIT rose 5 percent to EUR 692 million, according to the company earnings call published by Yahoo Finance. The adjusted EBIT margin was 14.8 percent.

Free cash flow reached EUR 294 million in the first six months, while commercial maintenance revenue rose 37 percent to EUR 1.5 billion. That mix matters because service revenue generally offers a different cash profile from new engine deliveries.

MTU stock trades above prior close

At EUR 366.60 on September 24, 2026, the stock was EUR 2.90 above the previous Xetra close. The daily move gives the Citi upgrade an immediate market reference, while the 13 percent revenue increase and 5 percent adjusted EBIT growth show the operating figures behind the valuation discussion.

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