OHB Draws Twin Bullish Calls as Astroscale Talks and Mainz Test Rig Advance

Two European brokers have staked out bullish ground on OHB SE ahead of the group's nine-month update, with Jefferies reiterating a Buy rating and a EUR 280 price target on Thursday and Berenberg keeping its own Buy stance and a EUR 358 target unchanged on 27 October. The pair of calls bookends a busy fortnight of corporate news for the Bremen-based space and technology group.

Jefferies analyst Chloe Lemarie expects the positive momentum from the first half to carry through, pointing to the group's prospects of hitting its full-year targets. Shares in OHB were up 2.3% at EUR 227.00 on Thursday, while a separate reading on the stock earlier in the week showed a 3.4% gain — a move the company did not attribute to any specific announcement.

Astroscale accord eyes orbital services

At the centre of the recent flow of announcements is a memorandum of understanding signed with Japan's Astroscale Holdings Inc. The two sides will explore possible collaboration across space safety, space situational awareness and in-orbit services, with the agreement covering an initial assessment of cooperation in those three areas. No concrete contracts or financial terms were disclosed.

OHB also moved to deepen its ties with MediaMobil Communication GmbH, disclosing on 26 October that it had agreed to acquire a 25% stake through a capital increase. The group did not name a purchase price for the holding.

Mainz test stand handed over

On the operational front, OHB Digital Connect wrapped up the EU-backed Eu-BEST project on 22 October, marking the commissioning and final acceptance of a modular rocket engine test stand at its Mainz site. The European Union contributed EUR 4.96 million to the programme. OHB Digital Connect was responsible for the stand's mechanical structures, while Eiffage Énergie Systèmes – Clemessy handled project coordination and SpaceDreams led the system design.

Three days earlier, on 19 October, the European Space Agency tasked OHB System AG — a subsidiary of OHB SE — with feasibility and preliminary design studies for the planned lunar infrastructure project OASIS, covering the study phase of the venture.

November print on the horizon

Investors now look to 12 November 2026, when OHB is scheduled to publish its nine-month figures for 2026, followed by a conference call on the results. That release will give the market its first detailed look at whether the momentum Jefferies and Berenberg are banking on has held through the third quarter.