0937 GMT - Rheinmetall's shares price could double to 3,000 euros by 2030 if European defense spending reaches 3% of gross domestic product, Morgan Stanley analysts Marie-Ange Riggio and Ross Law say. The German arms maker could potentially receive cumulative orders of between 325 billion euros and 450 billion euros by the end of this decade. Achieving this would force the group to double its manufacturing capacity starting in 2027, but that would be feasible, they add. The analysts estimate that Rheinmetall had a 12% share of the European equipment market in 2024, and an upward trend in market share is likely to continue as land platforms remain in focus in the near future. This could be confirmed by the European Commission's defense white paper, set to be published Wednesday. Shares are down 0.7% at 1,435 euros. (cristina.gallardo@wsj.com)
(END) Dow Jones Newswires
March 19, 2025 05:37 ET (09:37 GMT)
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