What Happened
Space And Defense Contractor Sees Boost In Market Confidence
OHB SE, a space and defense contractor, saw its shares rise 5.9% after Deutsche Bank and Berenberg raised their price targets. Berenberg named OHB its sector Top Pick, citing the company’s potential to capture a disproportionate share of rising government spending. OHB has a EUR 1 billion contract with SES to develop and build 18 satellite platforms for Europe’s IRIS² constellation. The company’s management has kept its guidance for the current fiscal year intact, with total output of roughly EUR 1.4 billion and an adjusted EBITDA margin between 10.5% and 11.0%. This development was reported by Unknown Source.