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The latest update is out from Austal ( (AU:ASB) ).
Austal Limited has secured a $1.029 billion contract to design and build 18 Landing Craft Medium (LCM) vessels for the Australian Army as part of the Strategic Shipbuilding Agreement with the Commonwealth of Australia. This contract marks the first step in advancing Australia’s sovereign naval shipbuilding capability at Austal’s Henderson facility in Western Australia, with construction commencing in 2026 and running through to 2032. The project is expected to create significant opportunities for local industries and businesses, enhancing the nation’s defence capabilities while laying the groundwork for future large-scale shipbuilding initiatives.
The most recent analyst rating on (AU:ASB) stock is a Hold with a A$7.86 price target. To see the full list of analyst forecasts on Austal stock, see the AU:ASB Stock Forecast page.
More about Austal
Austal is a leading global shipbuilder and defence prime contractor based in Australia. The company specializes in designing, constructing, and maintaining advanced commercial and defence vessels, with a focus on supporting strategic naval capabilities.
Average Trading Volume: 1,587,524
Technical Sentiment Signal: Buy
Current Market Cap: A$2.82B
For detailed information about ASB stock, go to TipRanks’ Stock Analysis page.