🔴 Rheinmetall AG is trading 4.9% down today on tank project collapse warnings and a broker target cut

Rheinmetall AG is trading 4.9% down today at $1150.40 following warnings from its CEO regarding the potential collapse of a flagship tank program and a price target cut from Jefferies.

• CEO Armin Papperger cautioned that the Franco-German MGCS tank project faces potential collapse due to French budget cuts, raising concerns over long-term growth and order-book stability.
• Analysts at Jefferies lowered their price target for the defense contractor, weighing on investor sentiment even as the firm maintained its Buy rating on the stock.