Berenberg starts Exosens at 'buy' on growth potential, M&A strategy

Exosens SA

16/10/2025 12:22

** Berenberg initiates coverage on French defence supplier Exosens EXENS.PA with a "buy" rating, citing undervalued growth and a targeted acquisition strategy

** The brokerage highlights Exosens as a strategic image-intensifier tubes supplier to NATO

** It believes the current share price does not fully capture the growth potential of the night-vision market or the company's strong positioning within it

** A targeted mergers and acquisitions strategy is also expected to fuel growth in segments outside of the company's core defence business, the brokerage adds

** Out of 10 analysts that cover Exosens, seven rate the stock "strong buy" or "buy," two rate "hold" and one rates the stock "strong sell"​​ - LSEG data

 (Reporting by Hugo Lhomedet)

 ((hugo.lhomedet@thomsonreuters.com))