Goldman Sachs starts Hensoldt coverage. Hensoldt stock falls 1.18 percent

Published on 10/07/2026 at 09:55 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Goldman Sachs sets an EUR 85.00 target and rates Hensoldt Neutral. Hensoldt stock costs EUR 77.85 on October 7, 2026 versus EUR 78.78.

Bauhaus-Geometrieposter für Hensoldt AG Rüstungssektor mit Radarkreisen und kräftigen Farben — Hensoldt AG im Rüstungssektor als Bauhaus Poster mit Radarkreisen geometrisch, ISIN DE000HAG0005, Illustration mit AI erstellt.

Hensoldt stock (ISIN DE000HAG0005) was trading at EUR 77.85 at Lang & Schwarz on October 7, 2026 at 9:47 a.m. CEST, down 1.18 percent versus the prior close of EUR 78.78. According to Investing.com on October 6, 2026, Goldman Sachs initiated coverage with a Neutral rating and an EUR 85.00 price target.

Goldman sees limited valuation upside

Goldman Sachs used an EUR 82.58 share price in its analysis and said the EUR 85.00 target represented 2.93 percent upside from that reference. The target is 9.17 percent above the Lang & Schwarz price of EUR 77.85, although the two figures come from different dates and are presented as separate market references.

The bank linked its Neutral view to a premium valuation despite Hensoldt's exposure to European defense spending, radar, electronic warfare, optronics and integrated sensor systems. Goldman also identified production and supply-chain issues, program delays, product mix and working-capital conversion as factors that could affect the growth case.

Half-year growth outpaces the share price

Börse Express reported on September 12, 2026 that Hensoldt's first-half 2026 revenue rose 23.60 percent to EUR 1,167 million, while adjusted EBITDA increased 28.50 percent to EUR 137 million. First-half 2026 order intake reached EUR 2,812 million, compared with EUR 1,405 million in the prior-year period, while the backlog exceeded EUR 10 billion.

The operating figures give investors a clear counterweight to the valuation debate. Growth is visible in revenue, adjusted EBITDA and order intake, while Goldman still requires faster backlog conversion, stronger margins or better cash generation to justify further upside.

November 5 is the next reporting date

Hensoldt's investor-relations page lists the nine-month 2026 quarterly statement for November 5, 2026 and identifies the half-year 2026 financial report as dated July 31, 2026. The company confirmed its 2026 outlook in the cited half-year context, including revenue of EUR 2,750 million and an adjusted EBITDA margin between 18.50 percent and 19.00 percent.

At Lang & Schwarz, Hensoldt stock was trading at EUR 77.85 on October 7, 2026 at 9:47 a.m. CEST, down 1.18 percent versus the prior close of EUR 78.78. The further course of trading is shown by the continuously updated real-time quote of Hensoldt stock.