Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Austal ( (AU:ASB) ) has shared an announcement.
Austal Limited has signed a Strategic Shipbuilding Agreement with the Commonwealth of Australia, appointing its subsidiary, Austal Defence Australia, as the strategic shipbuilder for Tier 2 surface combatants. This agreement, which includes projects for the Australian Army, reinforces Austal’s role in enhancing Australia’s naval shipbuilding capabilities and industrial sovereignty. The agreement outlines a 15-year framework for Austal Defence Australia to design, construct, and deliver naval programs, emphasizing local supply chain development and strategic defense readiness.
The most recent analyst rating on (AU:ASB) stock is a Hold with a A$6.75 price target. To see the full list of analyst forecasts on Austal stock, see the AU:ASB Stock Forecast page.
More about Austal
Austal Limited is a prominent player in the shipbuilding industry, focusing on the design and construction of both commercial and defense vessels. The company operates across Australia, Asia, and the United States, with a strong emphasis on naval shipbuilding capabilities and strategic defense projects.
Average Trading Volume: 1,243,507
Technical Sentiment Signal: Buy
Current Market Cap: A$2.92B
See more data about ASB stock on TipRanks’ Stock Analysis page.