Update shared on09 Sep 2025
Fair value Decreased 1.58%Analysts have modestly reduced Hensoldt’s price target as recent share price gains are seen as largely reflecting increased defense spending and sector tailwinds, limiting further upside barring significant outperformance, with the consensus target moving slightly down from €96.18 to €94.67.
Analyst Commentary
- Bullish analysts cite raised defense spending targets in Germany and across NATO (up to 3.5% of GDP and higher), supporting sector-wide growth expectations for Hensoldt.
- Some analysts are upgrading their stance as they no longer see shares as overvalued, partly due to stronger government commitment to defense budgets irrespective of the Ukraine conflict outcome.
- Major houses, such as JPMorgan and Deutsche Bank, have increased price targets citing robust sector fundamentals and positive order momentum.
- Bearish analysts caution that despite new spending benchmarks, current share prices may already reflect much of the anticipated growth, suggesting limited further upside unless Hensoldt meaningfully outperforms peers.
- Some see relatively better risk-reward opportunities in other European defense names over the next year, resulting in neutral or market-weight ratings on Hensoldt.
What's in the News
- Hensoldt AG confirmed 2025 earnings guidance, expecting revenues between EUR 2,500 million and 2,600 million.
- Hensoldt AG held an Analyst/Investor Day.
Valuation Changes
Summary of Valuation Changes for Hensoldt
- The Consensus Analyst Price Target remained effectively unchanged, moving only marginally from €96.18 to €94.67.
- The Future P/E for Hensoldt remained effectively unchanged, moving only marginally from 45.30x to 45.55x.
- The Discount Rate for Hensoldt remained effectively unchanged, moving only marginally from 5.73% to 5.74%.
Disclaimer
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