• NuWays reiterated a BUY on Steyr Motors, cutting its 12-month target price to EUR 53 from EUR 60.
• The call followed Red Cat withdrawing a preliminary, non-binding takeover approach, leaving no active proposal outstanding.
• NuWays flagged limited near-term visibility, citing more than EUR 300 million backlog but only EUR 37 million scheduled for 2026.
• The firm lowered estimates below guidance, warning operating leverage could hit profitability if order timing slips.
• Medium-term upside rests on less visible pipeline demand from European defense vehicle programs, USVs, further KNDS opportunities, the M12 power unit.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Steyr Motors AG published the original content used to generate this news brief via EQS News (Ref. ID: rc_26328) on July 30, 2026, and is solely responsible for the information contained therein.