UBS cuts Rheinmetall target to EUR 1,360. Rheinmetall stock gains 1.82 percent

Published on 10/26/2026 at 11:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Rheinmetall reports third-quarter results on November 5, 2026. Rheinmetall stock costs EUR 1,037.50, 1.82 percent above the Xetra close.

Analyst caution before November

UBS lowered its Rheinmetall target from EUR 1,600.00 to EUR 1,360.00 on October 20, 2026.
Second-quarter 2026 revenue reached EUR 3.29 billion, while net income was EUR 124.00 million.
Rheinmetall stock trades at EUR 1,037.50 at 11:06 a.m. CET at Lang & Schwarz on October 26, 2026, 1.82 percent above the Xetra close of October 23, 2026.
Rheinmetall is scheduled to report third-quarter 2026 results on November 5, 2026.

Makroaufnahme einer gerillten Stahlstruktur einer generischen Geschützrohr-Mündung in Nahaufnahme — Rheinmetall AG (DE0007030009) Makroaufnahme einer fein gerillten Stahlstruktur einer generischen Geschützrohr-Mündung in extremer Nahaufnahme, Illustration mit AI erstellt.

Rheinmetall AG (ISIN DE0007030009) was trading at EUR 1,037.50 at Lang & Schwarz on October 26, 2026, at 11:06 a.m. CET, 1.82 percent above the Xetra close of October 23, 2026 at EUR 1,019.00. The latest market signal is a more cautious valuation ahead of the defense group's November events.

On October 20, 2026, UBS cut its Rheinmetall price target from EUR 1,600.00 to EUR 1,360.00 but retained its Buy rating, according to MarketScreener. The bank tied its caution to the coming capital markets day and the need for more conservative targets.

Quarterly figures set the test

Rheinmetall's second-quarter 2026 revenue was EUR 3.29 billion, compared with EUR 2.43 billion in the second quarter of 2025, while net income was EUR 124.00 million versus EUR 131.00 million. These figures were reported by Business Insider.

The comparison leaves investors with two opposing signals: revenue increased by EUR 860.00 million, or 35.39 percent, year over year, while net income declined by EUR 7.00 million, or 5.34 percent. Execution and the conversion of Rheinmetall's order backlog into sales therefore remain central to the next update.

What do the latest projects add?

Rheinmetall's recent expansion points to capacity rather than a single order. On October 16, 2026, the company said its Albacete site would support annual production of about 3 million medium-caliber components. On October 19, 2026, Rheinmetall and MSC secured the Mangalia shipyard in Romania for EUR 138.00 million. On October 22, 2026, Rheinmetall opened its UK Gun Hall after an eight-month build-out, according to the company's investor-relations page.

November dates define the next test

Rheinmetall's next reporting date is November 5, 2026, when it is scheduled to publish third-quarter results. The capital markets day follows from November 25 to November 27, 2026. Those dates give the UBS target cut a clear near-term test: management must explain how capacity investment, sales growth and margins fit together.

Stock stays above EUR 1,000

Rheinmetall stock was trading at EUR 1,037.50 at Lang & Schwarz on October 26, 2026, at 11:06 a.m. CET, 1.82 percent above the Xetra close of October 23, 2026 at EUR 1,019.00. The 52-week range was EUR 900.20 to EUR 1,966.00 as of October 26, 2026.

The further course of trading is shown by the continuously updated real-time quote of Rheinmetall stock.