Chloe Lemaire, an analyst from Jefferies, maintained the Buy rating on RENK Group AG (R3NK – Research Report). The associated price target remains the same with €60.00.
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Chloe Lemaire’s rating is based on RENK Group AG’s strong performance in the defense sector, which saw a significant increase in sales by 29%, contributing to an overall sales growth of 15% in the first quarter. Despite sales being slightly below consensus expectations, the company achieved a robust 14.1% margin, leading to a 4% beat on EBIT, although it was slightly below the analyst’s expectations.
Furthermore, the order intake for RENK Group AG was particularly impressive, showing a 164% year-over-year increase, with a book-to-bill ratio of 2.0x, indicating strong future demand. The company’s long-term revenue outlook remains positive, with projections for 2030 now estimated between €2.5 billion and €3.0 billion, including mergers and acquisitions. These factors combined support the Buy rating given by Chloe Lemaire.
In another report released on May 2, Deutsche Bank also maintained a Buy rating on the stock with a €55.00 price target.
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is neutral on the stock.