Leonardo opened Turin fighter site: Leonardo stock gained 1.17 percent

Published on 10/12/2026 at 09:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half revenue reached EUR 10.0 billion, up 12.00 percent year over year. Leonardo stock costs EUR 47.36 on October 12, 2026 versus EUR 46.81.

Key points in brief

Leonardo opened a Turin site for the GCAP fighter program on October 9, 2026, with a 33.3 percent stake in Edgewing.
Bank of America cut its Leonardo target from EUR 79.50 to EUR 71.00 on October 1, 2026, while retaining a Buy rating.
First-half 2026 revenue reached EUR 10.0 billion, up 12.00 percent year over year, while new orders rose 45.00 percent to EUR 16.0 billion.
Leonardo stock was trading at EUR 47.36 at Lang & Schwarz on October 12, 2026 at 9:30 a.m. CEST, up 1.17 percent versus the Xetra close of EUR 46.81 on October 9, 2026.

Makroaufnahme von metallischen Turbinenschaufeln mit feinen Reflexionen — Makroaufnahme von Titan-Turbinenschaufeln repräsentiert die hochpräzise Fertigungstechnik von Leonardo S.p.A., ISIN IT0003856405, im Detail, Illustration mit AI erstellt.

Leonardo opened a Turin site for the Global Combat Air Programme on October 9, 2026, and its stock gained 1.17 percent against the Xetra close of October 9. As Leonardo reported, Edgewing is equally owned by Leonardo, BAE Systems and Japan Aircraft Industrial Enhancement Co., giving Leonardo a 33.3 percent stake in the joint venture. The new site adds a concrete industrial marker to the companys long-term fighter strategy.

First-half growth sets the baseline

Leonardo reported EUR 16.0 billion of new orders in the first half of 2026, up 45.00 percent year over year. Revenue reached EUR 10.0 billion, up 12.00 percent, while EBITA rose 34.00 percent to EUR 780.0 million, according to Leonardo.

The figures matter because the order book is expanding faster than sales. The first-half free operating cash flow was negative EUR 249.0 million, up 39.00 percent year over year in the company release, leaving execution and cash conversion as the key counterweight to the order momentum.

What does the target cut mean?

Bank of America cut its Leonardo price target from EUR 79.50 to EUR 71.00 on October 1, 2026, while maintaining a Buy recommendation, as Teleborsa reported. The new target is 49.96 percent above the EUR 47.36 Lang & Schwarz price, calculated in the same currency, but the cut highlights valuation and disclosure concerns.

Three dated milestones

On July 30, 2026, Leonardo reported first-half orders of EUR 16.0 billion and upgraded its 2026 guidance. On September 24, 2026, Orizzonte Sistemi Navali signed a EUR 3.7 billion destroyer contract, including approximately EUR 1.7 billion for Leonardo, according to Leonardo. On October 9, 2026, the Edgewing Turin site opened, extending the GCAP platform.

Next dates and price context

Leonardo lists November 6, 2026, for results at September 30, 2026, and July 31, 2026, for the results at June 30, 2026, in its financial calendar. The next report will test whether the 45.00 percent order growth and 12.00 percent revenue growth can translate into cash generation.

Leonardo was trading at EUR 47.36 at Lang & Schwarz on October 12, 2026 at 9:30 a.m. CEST, plus 1.17 percent versus the Xetra close of October 9, 2026 at EUR 46.81. The further course of trading is shown by the continuously updated real-time quote of Leonardo stock.