UBS raises target for Rheinmetall to 2200 euros and 'Buy' + Okta increases non-GAAP net income and sales + Aroundtown benefits from higher rent
UBS raises target for Rheinmetall $RHM (-4,06 %)to 2200 euros - 'Buy'
- The major Swiss bank UBS has raised its target price for Rheinmetall from 1840 to 2200 euros and left its rating at "Buy".
- Unlisted defense companies are an important backbone of the industry, but in theory they also cause capacity bottlenecks due to more difficult access to financing, wrote Sven Weier on Wednesday in the run-up to the NATO summit.
- However, he does not see any problems for Rheinmetall.
- The company is financially strong enough to support its suppliers.
- In view of the NATO summit, Weier believes that a 3.5 percent investment target of economic output for armaments is still fully priced into Rheinmetall shares.
- He raised his sales estimates once again.
Okta $OKTA (+0,08 %)increases non-GAAP net profit and sales
- Okta late Tuesday reported first-quarter non-GAAP net income of $0.86 per diluted share, up from $0.65 a year earlier.
- Analysts polled by FactSet had expected $0.77.
- Revenue for the quarter ended April 30 was $688 million, up from $617 million a year earlier.
- Analysts had expected 680.3 million US dollars.
- For the second quarter, the company expects non-GAAP earnings per share of $0.83 to $0.84 on sales of $710 million to $712 million.
- Analysts are forecasting USD 0.79 and USD 708.8 million.
- For the 2026 financial year, the company raised its EPS forecast from USD 3.15 to USD 3.20 to USD 3.23 to USD 3.28.
- The revenue forecast for the financial year remains at USD 2.85 to 2.86 billion.
- Analysts surveyed by FactSet expect earnings per share of 3.2 US dollars on sales of 2.86 billion US dollars.
- Okta shares fell 11% in after-hours trading.
Aroundtown $AT1 (-0,8 %)benefits from higher rent
- The commercial real estate specialist Aroundtown benefited from rising rents in the first quarter.
- Net rental income climbed by one percent to 295 million euros despite the sale of properties, as the MDax group announced on Wednesday.
- On a comparable basis, rents increased by 3 percent.
- At 76.3 million euros, the operating profit (FFO1) remained at the previous year's level.
- In addition to the lower number of properties, the perpetual bonds also had a negative impact here.
- For the current year, the real estate group is still aiming for a further decline in operating profit (FFO1) and is forecasting between EUR 280 million and EUR 310 million.
- At the bottom line, profit amounted to just under 319 million euros, mainly due to positive valuation effects, compared to 102 million euros in the same period of the previous year.
- Meanwhile, the company once again does not intend to pay a dividend for the past year.
Wednesday: Stock market dates, economic data, quarterly figures
Stock exchange trading in Sweden shortened (until 1 p.m.)
- ex-dividend of individual stocks
- Daimler Truck Holding AG € 1.90
- Bechtle AG € 0.70
- Hensoldt AG € 0.50
- SMA Solar Technology AG € 0.50
- KION GROUP AG € 0.82
- Deutsche Beteiligungs AG € 1.25
- Krones AG € 2.60
- Indus Holding AG € 1.20
- ABO Energy GmbH & Co KGaA € 0.65
- OHB SE € 0.60
- Quarterly figures / company dates USA / Asia
- 22:00 Nvidia | Salesforce Quarterly figures
- 22:30 HP Inc Quarterly figures
- Quarterly figures / Company dates Europe
- 06:50 Aroundtown Quarterly figures
- 07:30 Heidelberg Materials Capital Markets Day
- 10:00 Evonik Industries | Prosiebensat1 | Secunet Security AGM
- 10:30 Klöckner & Co AGM
- 11:00 Teamviewer AGM
- Economic data
08:00 DE: Import/Export Prices April Import Prices PROGNOSE: -1.2% yoy/+0.2% yoy previous: -1.0% yoy/+2.1% yoy | Employment April
08:45 FR: Private consumption April FORECAST: +0.3% yoy previous: -1.0% yoy | GDP (2nd release) 1Q
09:00 DE: Economic Barometer of the DIW - German Institute for Economic Research May
09:55 DE: Labor market data May seasonally adjusted unemployment rate FORECAST: +14,000 yoy previous: +4,000 yoy Unemployment rate seasonally adjusted FORECAST: 6.3% previous: 6.3%
10:00 EU: ECB, May consumer survey results
20:00 US: Fed, minutes of the FOMC meeting
