TKMS AG & Co. KGaA (TKMSF)
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TKMS: Estimates Rise While Shares Fall Creating A Buying Opportunity
TKMS (TKMSF) remains a buy, with financial expectations rising even as the stock has declined over 15% since January. TKMS is a leader in conventional submarines and surface combatants, offering vertical integration across ships, subsystems, and electronics. Despite recent price weakness, TKMS trades at a discount to peers, with 8–27% upside potential and no bank debt.
TKMS: The European Marine Powerhouse To Buy
TKMS AG & Co KGaA, a global leader in conventional submarines, is initiated with a Buy rating and a $140.18 price target, implying 20% upside. TKMS benefits from surging defense demand and a robust €18.2 billion backlog, with annual sales growth projected at 12.3% and EBITDA growth at 19.4%. Margins are expected to expand from 6.7% in 2023 to 11% in 2027 as operating leverage improves, despite variability in free cash flow due to milestone payments.
