Rheinmetall stock: Citi cuts target to 1,099 euros

Published on 11/13/2026 at 17:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Rheinmetall stock faces a lower Citi valuation after the bank cut its long-term sales and EBIT forecasts ahead of the November capital markets day. Citi retained its Buy rating.

What Citi's Revision Means

Citi kept its Buy rating while cutting its long-term sales and EBIT forecasts.
The November capital markets day is expected to clarify Rheinmetall's medium-term ambitions.
Citi highlighted substantial uncertainty around its revised estimates.

Rheinmetall, DE0007030009, Illustration mit AI erstellt.

Rheinmetall stock came under renewed analyst scrutiny on Friday, November 13, 2026, after Citi reduced its price target to 1,099 euros while maintaining a Buy rating. Investing.com, citing Reuters, said the revision reflected concerns about Rheinmetall's medium-term outlook.

Citi Recasts Long-Term Expectations

Citi cut its 2030 sales forecast by 15% to 30.3 billion euros and reduced its EBIT estimate by 27% to 5.6 billion euros. The revised sales view stands below both consensus expectations and the company's guidance, while the EBIT forecast also remains below those reference points.

The bank said its updated assumptions carry a high degree of uncertainty. Its valuation assigns 236 euros per share to the Weapons & Ammunition division and 863 euros to the rest of the group, based on separate 2028 and 2030 valuation multiples.

Capital Markets Day Sets Next Test

Citi expects Rheinmetall's capital markets day on November 27, 2026, to clarify the group's medium-term direction. The bank described the event as a potential clearing point for investors assessing whether the company can rebuild credibility and support a fundamental valuation.

For investors, the updated view places greater emphasis on the conversion of long-term demand into forecastable revenue and profit. The retained Buy rating shows that Citi's lower estimates do not amount to a wholesale rejection of Rheinmetall's investment case, but the sharper forecast reductions underline the execution risk around the company's outlook.