Kobo Resources: Analysts see over 100% upside potential
Gold seems to be taking off again. Last week, the price per troy ounce climbed back above USD 4,700. This puts JPMorgan’s year-end target of USD 6,300 and Goldman Sachs’ target of UDS 5,400 per troy ounce back in sight. Investors are also returning to the major gold companies. Barrick Mining’s stock, for example, gained nearly 10% last week.
This also signals a return of the spotlight on gold explorers. A hot candidate for a comeback is Kobo Resources. The stock of this explorer, which has an interesting project in Côte d’Ivoire, was still trading at EUR 0.23 in mid-March. The gold correction also hit Kobo, and the stock is currently trading at EUR 0.16. There are good reasons for a price rally. This is confirmed by Atrium Research. The analysts recommend Kobo Resources stock as a “Buy” with a price target of CAD 0.60 (EUR 0.37).
The drilling results reported in early April from the Kossou project were impressive in terms of extent and gold content. In the Road Cut Zone, high-grade intervals of up to 5.06 g/t gold were reported, with a peak value of 20.0 g/t. Significant mineralization was also identified in the Fault Zone. And in the Kadie Zone as well, every drill hole yielded a gold hit. In the meantime, the preparation of an initial resource estimate has been commissioned. This is expected to be available as early as the third quarter of this year and will shed light on Kossou’s potential for the first time. Based on drilling results to date, the company’s current valuation appears anything but high. Funde Investment seems to share this assessment. The Asian investor came on board as the lead investor in the last financing round. Since this likely only occurred after an intensive due diligence process, there appears to be significant potential at Kobo.
And thanks to the capital increase, Kobo is fully funded for the time being and can continue to advance its drilling program, which should also drive the stock price.
RENK: Ready for a Comeback?
It is actually surprising that RENK is among the candidates for a comeback. After all, global spending on defence is higher than ever before. According to the Stockholm International Peace Research Institute (SIPRI), approximately EUR 2.9 billion was spent on tanks, drones, and related equipment in 2025. While the US, China, and Russia accounted for a good 50% of global military spending as usual, spending in Europe rose by 14%. Germany even invested around 24% more in defence than in the previous year.
Nevertheless, defence stocks have been struggling for several months. RENK’s stock has lost nearly 13% this year. From its mid-January high, the decline was even over 25%. Last Friday alone, the stock of the specialist in military vehicle transmissions fell by over 5%. The reason was likely the downgrade of industry heavyweight Rheinmetall. JPMorgan slashed the price target for the stock of Germany’s largest defence conglomerate from EUR 2,100 to EUR 1,500 and withdrew its “Buy” recommendation.
Given the poor industry sentiment, even DZ Bank’s support could not help RENK’s stock. On Friday, the analysts confirmed their “Buy” recommendation for RENK shares and set a fair value of EUR 65. In their opinion, the new production system at the Augsburg plant could significantly increase margins.
TeamViewer: 29% in four weeks
TeamViewer shares have been staging a comeback for several weeks now. Last week alone, they rose by nearly 12%. Over a four-week period, the price gain is as high as 29%. The software company’s stock is now trading at EUR 5.50. While this is well above the yearly low of EUR 4.09, the 52-week high of EUR 11.35 highlights the stock’s steep decline.
The company does not appear to be among the biggest AI losers after all. The Q1 figures were well received by the market. Revenue of EUR 183.2 million was in line with expectations, and adjusted EBITDA of EUR 83.0 million exceeded the consensus.
Opinions on the stock’s future trajectory vary widely. Among the TeamViewer bulls is RBC; its analysts recommend buying the German tech company’s stock and see its fair value at EUR 13. This would imply a potential return of over 100%. In contrast, Barclays sees no further upside potential. The analysts rate the stock as “Equal Weight” with a price target of EUR 5. They attribute the higher EBITDA solely to a shift in marketing costs.
A promising candidate for outperformance during a new gold rally is Kobo Resources. In the coming months, not only are further drilling results expected, but also the first resource estimate. In contrast, sentiment in the defence sector still appears too weak to make RENK a comeback candidate. The rally in TeamViewer has already been substantial, but it stands on shaky ground.
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