Hensoldt Draws a Split Analyst Verdict as Revenue Guidance Edges Higher
Published on 11/15/2026 at 14:51 | Editorial boerse-global.de
Hensoldt's order intake ran to 3.56 billion euros across the first nine months of 2026, comfortably ahead of the 1.86 billion euros in revenue booked over the same stretch. That gap between what the defence group wins and what it bills sits at the heart of a week in which sell-side opinion on the stock pulled in opposite directions.
JPMorgan moved first among the bulls, lifting its rating to "Overweight" from "Neutral" on Wednesday and nudging its price target up to 105 euros from 100. The upgrade leaned on the company's production ramp-up and on revenue growth of 21% in the nine-month period. Deutsche Bank Research kept its "Buy" rating in place the same day but trimmed its target to 100 euros from 105 following an investor event. Morgan Stanley, for its part, cut its target to 81 euros from 82 on Friday while sticking with "Equal Weight," and the shares finished that session up 1.1%.
The guidance update came on 5 November, when Hensoldt sharpened its 2026 revenue outlook to roughly 2.8 billion euros, up from about 2.75 billion previously. Management continues to guide toward an adjusted EBITDA margin of around 19.0%. Adjusted EBITDA for the first nine months reached 281 million euros, and the book-to-bill ratio is expected to land at the top end of the previously indicated range of roughly 1.5x to 2.0x.
Should investors sell immediately? Or is it worth buying Hensoldt?
Ownership disclosures added a second thread to the week. BlackRock reported a total stake of 4.93% as of 4 November, including financial instruments, up from 4.80% previously. Voting rights attached to shares account for 3.03%, with instruments making up the remaining 1.90%. FIL Limited also crossed a reporting threshold on Tuesday, a disclosure Hensoldt published on Friday showing a 3.02% holding in voting rights.
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