---
title: "Jefferies’ David Farrell Reiterates Buy on Chemring as Early JBTDS Award Strengthens Medium-Term Growth Outlook"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/291382472.md"
description: "Jefferies analyst David Farrell reiterates a Buy rating on Chemring with a £658 price target. The upgrade is driven by an early JBTDS contract award, which accelerates revenue and closes the FY26 Sensors & Information gap. Combined with recent program awards for Digital Targeting Web and energetics facilities, these developments strengthen Chemring's medium-term growth outlook and earnings trajectory."
datetime: "2026-07-01T07:35:23.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/291382472.md)
  - [en](https://longbridge.com/en/news/291382472.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/291382472.md)
generator: "portal-rs"
---

# Jefferies’ David Farrell Reiterates Buy on Chemring as Early JBTDS Award Strengthens Medium-Term Growth Outlook

Analyst David Farrell of Jefferies maintained a Buy rating on Chemring, with a price target of p658.00.

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David Farrell has given his Buy rating due to a combination of factors that strengthen Chemring’s growth outlook and revenue visibility. The earlier-than-expected Full Rate Production award for the Joint Biological Tactical Detection System contract brings forward revenue that had been assumed only modestly in FY26F, helping to close the anticipated Sensors & Information revenue gap in the second half of that year.

David Farrell’s rating is based on the view that, although the current JBTDS contract ceiling of US$48.8m is below prior annual revenue aspirations, it still represents a meaningful incremental contribution versus Jefferies’ previous modelling. When combined with recent program awards, including commitments to the Digital Targeting Web and new energetics facilities, these developments support a robust pipeline and underpin confidence in Chemring’s medium-term earnings trajectory, justifying a Buy recommendation.

Farrell covers the Industrials sector, focusing on stocks such as Chemring, Hill & Smith Holdings, and Babcock International. According to TipRanks, Farrell has an average return of 8.8% and a 59.36% success rate on recommended stocks.

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**