1506 GMT - Greater certainty on defense spending trajectories for Rheinmetall and the broader European defense sector should trigger re-ratings in the coming months, HSBC analysts Dario Dickmann and Christoph Dolleschal say. They expect European defense spending to increase to 3% of GDP in 2030, exceeding their previous forecast of 2.5% of GDP in 2030 and 3% in 2035. HSBC increased Rheinmetall's share price target to 1,275 euros per share from 1,000 euros, and reiterated its Buy recommendation. Shares are up 14% at 1,148 euros. (cristina.gallardo@wsj.com)
(END) Dow Jones Newswires
March 03, 2025 10:06 ET (15:06 GMT)
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