DB initiates Kongsberg with 'buy' on strong missile-led growth

Kongsberg Gruppen ASA

10/09/2026 08:14

** Deutsche Bank starts coverage of Kongsberg Gruppen KOG.OL with "buy", citing the Norwegian defence contractor's all-time high backlog and rapid capacity expansion driven by its fast-growing Missiles business
** It also notes strong high-margin air defence growth and steady gains for the high-tech underwater and space businesses within the Discovery division
** DB says Kongsberg could become one of the fastest-growing and most profitable defence primes in Europe, supported by its favourable geographic diversification
** The broker sets a price target of NOK 360 vs Wednesday's closing price of NOK 299.20
** Kongsberg shares rise 2.5% in morning trade

(Reporting by Agnieszka Gosciak-Rabalska)
((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))