Hensoldt is trading at €76.00, down 5.38%, amid reported ZEBEL disruptions that hindered Bundeswehr spare-parts deliveries. - Hensoldt acknowledged difficulties related to the warehouse move; financial effects remain unquantified. - On October 30, mwb Research cut its target to €60 from €62 and reiterated its Sell rating, citing logistics issues. - Hensoldt’s November 5 update reported stronger nine-month results and slightly raised 2026 guidance; the announcement does not itself explain the decline.