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Rheinmetall's shares have dropped over 47% in 2026, following a significant decline on November 5. The company has lowered its sales expectations for the second time in three months due to delays in military projects. Analyst David Perry has revised the price target down to 1,150 euros, marking the fifth revenue warning in 11 months. Concerns about long-term revenue prospects for certain ground systems products have increased, and the company's growth objectives for 2030 may also be significantly reduced.

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