Hensoldt stock gets Neutral rating with EUR 85 target from Goldman Sachs

Published on 10/06/2026 at 15:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Hensoldt stock draws a Neutral rating and an EUR 85 target from Goldman Sachs on October 6, 2026. Q2 revenue rose 22.22 percent to EUR 671 million.

Flatlay mit Hensoldt AG Aktienzertifikat, Optiklinsen, Sensormodul und DAX-Index-Karte — Hensoldt AG Aktienzertifikat ISIN DE000HAG0005 mit Optronik Komponenten und DAX Karte im Flatlay, Illustration mit AI erstellt.

Hensoldt stock (ISIN DE000HAG0005) was last at EUR 84.22 on Xetra at 8:30 a.m. CET on October 6, 2026, while Goldman Sachs began coverage with a Neutral rating and an EUR 85 price target. The new view puts valuation alongside the company's rapidly expanding order book as the central investor issue.

Goldman weighs growth against valuation

According to Investing.com on October 6, 2026, Goldman Sachs said Hensoldt's exposure to European defense spending supports strong growth visibility, but the valuation already reflects much of the expected earnings expansion. The bank expects 2026 revenue of EUR 2.8 billion and adjusted EBITDA of EUR 530 million.

The same Goldman Sachs assessment identifies production and supply-chain issues, program delays, product mix and working-capital conversion as risks. That balance explains the Neutral rating: the growth case is substantial, while the valuation leaves less room for execution disappointments.

Q2 revenue climbed 22.22 percent

Hensoldt's second-quarter 2026 revenue reached EUR 671 million, compared with EUR 549 million in the prior-year quarter, a 22.22 percent increase, according to Boerse Express on October 2, 2026. Earnings per share stood at EUR 0.07 in the quarter, matching the cited prior-year figure.

The order picture is even larger than the quarterly sales figure. Hensoldt's backlog reached EUR 10.36 billion at the end of the first half of 2026, up 17 percent from year-end 2025, while first-half order intake reached EUR 2.81 billion, according to Investing.com. The backlog therefore provides a substantial delivery base, but conversion into revenue and cash remains the key operating test.

November results set the next test

Hensoldt's next scheduled reporting date is November 5, 2026, when the company plans to publish its 9M 2026 quarterly statement, according to the HENSOLDT investor-relations page. The release will show whether the company is converting its record backlog into further sales and whether margins are keeping pace with capacity expansion.

For investors, the contrast is clear: Q2 revenue growth of 22.22 percent and a backlog of EUR 10.36 billion support the long-term case, while Goldman Sachs' EUR 85 target leaves only a narrow valuation cushion against the Xetra quote of EUR 84.22.

Hensoldt stock stays below yearly high

The Hensoldt stock was last at EUR 84.22 on Xetra at 8:30 a.m. CET on October 6, 2026, up 0.45 percent from EUR 83.84. The same quote showed a 52-week range of EUR 63.48 to EUR 113.20.