Kepler Cheuvreux Initiates OHB Coverage with Buy Rating and €260 Target
Kepler Cheuvreux has rated OHB as a Buy, emphasizing its unique position in Europe's space and defense sectors. The firm's revenue target of over €4 billion by FY 2025 indicates significant growth potential amidst a broader industry rebound.
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Kepler Cheuvreux has initiated coverage of OHB with a Buy rating and a price target of €260. The firm anticipates OHB's revenues, referred to as TOP, to exceed €4 billion by FY 2025, reflecting a compound annual growth rate (CAGR) of over 20%.
Adjusted EBITDA is expected to grow at more than 30% CAGR, aided by operational efficiency and a strengthened defense portfolio. The recent €0.5 billion capital raise enhances OHB's financial flexibility, supporting industrial growth and participation in larger sovereign initiatives. A potential increase in order intake in H2 could serve as a catalyst for future growth.
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