BIT:FCTMachinery
Does Jefferies’ Defense-Fueled Upgrade and Backlog Visibility Change The Bull Case For Fincantieri (BIT:FCT)?
In early April 2026, Jefferies upgraded Italian shipbuilder Fincantieri to “buy” from “hold,” citing record defense orders, stronger cash generation, and a recently completed €500 million rights issue that reinforced its balance sheet ahead of the 2026–2030 business plan.
An interesting angle is Jefferies’ emphasis on Fincantieri’s enlarged backlog and potential underwater defense acquisitions, which together extend business visibility out to 2037.
We’ll now examine how Jefferies’ upgrade,...