Rheinmetall AG

RHM: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€258.00	Vwlv	Spjbwctb

Rheinmetall: Initiating Coverage With a Wide Moat and Fair Value of EUR 343; Shares Undervalued

Loredana Muharremi

Dec 18, 2023

We initiate coverage of Rheinmetall with a wide moat and fair value estimate of EUR 343 per share, backed by expected rises in defense spending due to global threats and a strategic shift to ammunition and services.

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