UBS has upgraded Rheinmetall AG to "buy," raising its price target from €924.00 to €1,208.00, driven by expectations of increased defense spending potentially reaching 3% of GDP. The company's strong financial performance, including a 111.35% return over the past year, supports this optimistic outlook. Meanwhile, HSBC maintains a "buy" rating with a €1,000 target, citing opportunities from EU defense initiatives amid rising geopolitical tensions.