Kepler upgrades Hensoldt stock to Buy on third-quarter view

Published on 10/05/2026 at 11:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue rose 23.60 percent to EUR 1.17 billion in the first half of 2026. Hensoldt stock costs EUR 80.11 on October 5, 2026 versus EUR 79.75.

Schwarz-Weiß-Reportage von Hensoldt AG Ingenieuren bei Optronik-Inspektion in Werkstatt — Hensoldt AG Ingenieure prüfen Sensorsysteme in der Werkstatt dokumentarisch schwarz weiß, ISIN DE000HAG0005, Illustration mit AI erstellt.

Hensoldt (ISIN DE000HAG0005) stock was trading at EUR 80.11 at Lang & Schwarz on October 5, 2026 at 11:08 a.m. CEST, up EUR 0.36 or 0.45 percent versus the prior close of EUR 79.75. The latest company-specific impulse came on October 2, 2026, when Kepler Cheuvreux upgraded Hensoldt from Hold to Buy and pointed to expectations for a strong third quarter, according to Aktiencheck.

Kepler sees third-quarter upside

Kepler analyst Aymeric Poulain expects Hensoldt to exceed its targets in the third quarter and potentially raise its full-year outlook. The same assessment also points to faster order intake in the fourth quarter and a capital markets day in November as possible operating milestones, while highlighting valuation and longer-term growth risks.

The upgrade followed a period of renewed interest in European defense electronics. Hensoldt is positioned in radar, sensor and optronics systems, so the central question for the next report is whether order momentum is converting into revenue and margin improvement.

First-half numbers set the benchmark

Hensoldt reported revenue of EUR 1.167 billion in the first half of 2026, an increase of 23.60 percent from the prior-year period. Adjusted EBITDA rose 28.50 percent to EUR 137.00 million, according to Boerse Express.

Order intake reached EUR 2.812 billion in the first half, while the order backlog reached EUR 10.356 billion. Hensoldt continues to target 2026 revenue of EUR 2.75 billion and an adjusted EBITDA margin of 18.50 percent to 19.00 percent, giving the November report a clear numerical test.

Stock remains below yearly high

The stock's EUR 80.11 Lang & Schwarz price was EUR 37.59 below the 52-week high of EUR 117.70 and EUR 16.93 above the 52-week low of EUR 63.18, both as of October 5, 2026. Market capitalization stood at EUR 9.3 billion on the same date.

Hensoldt's investor-relations calendar lists the nine-month 2026 quarterly statement for November 5, 2026, while the company identifies its first-half 2026 financial report as dated July 31, 2026, on its investor-relations page. The further course of trading is shown by the continuously updated real-time quote of Hensoldt stock.