TKMS initiated at buy by Stifel on European naval rearmament exposure
Stifel initiated TKMS with a buy rating, citing exposure to Europe’s naval rearmament and undersea warfare modernization, plus a backlog and mature pipeline.
TKMS offers exposure to Europe’s naval rearmament and modernization in undersea warfare, Stifel said in a note initiating the stock at buy. The German naval defense company can more than double its secured revenue base, supported by more than 25 billion euros of backlog and a mature pipeline.