Rheinmetall AG shares fell 1.2% on Friday after Berenberg downgraded the defense company from Buy to Hold. The bank cut its price target to €1,020 from €1,600, citing uncertainty about revenue growth beyond 2030 and limited visibility on major medium- and long-term contracts.
Bernstein analysts reiterated their Outperform rating on the same day, offering a more optimistic view. The German DAX index did not experience similar declines, suggesting the selling pressure was specific to Rheinmetall.