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Hensoldt: One Of Europe's Most Underappreciated Defense Growth Stocks

Hensoldt AG is upgraded to strong buy, driven by robust Q1 growth and multi-year defense demand tailwinds. Q1 backlog surged 41% to €9.8B, with order intake doubling and revenues up 26%, highlighting accelerating operational scale. 2026 guidance is reaffirmed: €2.75B sales, 18.5%-19% EBITDA margin, and strong free cash flow conversion, supporting a multi-year growth trajectory.

Seeking Alpha • Jun 11, 2026

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