Stifel upgrades Theon International to 'buy' on historic order intake

Theon International

17/02/2026 08:44

** Stifel upgrades European night-vision device maker Theon International PLC  to "buy" from "hold", citing strong FY25 results and historic order intake

** Theon's FY revenue rose 25.9% to 443.5 million euros ($524.75 million) while its adjusted EBIT margin stood at 26.2%

** The brokerage highlights that order intake almost tripled year-on-year, bolstered by a landmark 1 billion euros  ($1,18 billion) contract for the German Armed Forces extending visibility to 2029

** The company is now guiding for around 30% revenue growth in FY26 to between 570-600 million euros

** The broker states it views Theon as "well-positioned for continued growth and long-term value creation" amid increased defence spending

** Out of 10 analysts that cover Theon International, eight rate the stock "strong buy" or "buy,"​ and two​ rate the stock "strong sell" or "sell" - LSEG data

($1 = 0.8452 euros)

(Reporting by Hugo Lhomedet)

((hugo.lhomedet@thomsonreuters.com))