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Rheinmetall

DEFENCE · XETRA · PEER OF BA.

◆ THESIS
  • Rheinmetall is THE Ukraine defence trade. Tank refurbishment (Leopard 2A8), 155mm shell production scaled 10× since 2022, Lynx IFV exports to the eastern flank. Has run hard but order book extends to 2030+. Highest-conviction defence prime in the universe for this event.

◆ PEER PICK

German defence/auto. European defence spending surge. Ammunition, armoured vehicles. THE European rearmament stock.

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