JP Morgan analyst David H Perry downgraded Rheinmetall AG from Buy to Neutral. Perry lowered the stock's price target to EUR 1500 from EUR 2130.
The downgrade follows Rheinmetall's first-quarter 2026 earnings report released on May 7. The company missed market expectations for both revenue and earnings per share. Rheinmetall's stock price dropped notably following the report.
Sales figures fell short of analyst forecasts. Operating results increased during the period. The company reaffirmed its full-year guidance despite the quarterly miss.