Bernstein rates MTU Aero Engines stock Outperform at EUR 450.00 target

Published on 10/02/2026 at 14:07 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The September 25, 2026 note cites margins and cash flow. MTU Aero Engines stock costs EUR 372.05 after EUR 369.10, plus 0.80 percent.

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MTU Aero Engines (ISIN DE000A0D9PT0) was trading at EUR 372.05 at Lang & Schwarz on October 2, 2026 at 2:03 p.m. CEST, up 0.80 percent versus the prior close of EUR 369.10. In a note dated September 25, 2026, FinanzNachrichten reported that Bernstein maintained its Outperform rating and EUR 450.00 price target for MTU.

Bernstein links value to cash flow

Bernstein analyst Douglas Harned used a multiple of 15 times operating profit in the September 25, 2026 research note. The analysis says MTU must demonstrate sustainable margins and improve cash flow to move closer to Rolls-Royce, Safran and Airbus, while identifying the November capital markets day as a potential catalyst.

The target stands EUR 77.95 above the Lang & Schwarz price, equivalent to 17.21 percent above EUR 372.05. That comparison gives the rating a clearly defined valuation frame, but it also leaves operating execution as the central condition in the analyst case.

Second-quarter revenue reached EUR 4.67 billion

MTU reported revenue of EUR 4.67 billion and net income of EUR 430.0 million for the second quarter of 2026, according to Markets Insider. Revenue increased from EUR 4.17 billion in the comparable quarter, while net income fell from EUR 560.0 million, creating a mixed operating picture beneath the positive analyst rating.

The company website lists adjusted fiscal-year 2025 revenue of EUR 8.7 billion, adjusted net income of EUR 968.0 million and adjusted EBIT of EUR 1.351 billion. Those historical figures provide scale, while the second-quarter result shows why margin quality and cash generation remain important to the current valuation discussion.

Next results arrive on October 29

MTU is scheduled to publish its third-quarter 2026 results on October 29, 2026, according to MarketScreener. The upcoming report will give investors a new test of the revenue trend and cash flow that underpin the EUR 450.00 Bernstein target.

Stock remains below its yearly high

MTU's EUR 372.05 Lang & Schwarz price on October 2, 2026 stood EUR 32.75 below its 52-week high of EUR 404.80 and EUR 106.85 above its 52-week low of EUR 265.20. Market capitalization was EUR 20.0 billion on October 2, 2026, while the share was up 0.80 percent against the EUR 369.10 prior close.

The further course of trading is shown by the continuously updated real-time quote of MTU Aero Engines stock.