FRANKFURT (dpa-AFX Broker) - After their record rallies until the beginning of the month, defense stocks are currently hardly benefiting from the increasingly tense geopolitical situation. Shares in the drive technology specialist Renk have corrected by almost a third since their record high on April 2 and are currently recovering somewhat. Shares in electronics supplier Hensoldt are currently only holding steady after a correction of up to 20 percent.

Rheinmetall shares even fell on Friday morning after Deutsche Bank withdrew its buy recommendation the previous evening. Although analyst Christoph Laskawi raised his price target to 510 euros, this is only around the current Xetra level. Rheinmetall had already peaked at almost 572 euros at the beginning of April and has since corrected by almost twelve percent.

According to Laskawi, the short and medium-term prospects are adequately priced in. Although he expects the medium-term Group targets to be increased on the capital market day, this is also included in the share price./ag/zb

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