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Austal USA Secures Contract for Second U.S. Coast Guard Offshore Patrol Cutter

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Austal USA Secures Contract for Second U.S. Coast Guard Offshore Patrol Cutter

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An update from Austal ( (AU:ASB) ) is now available.

Austal USA has received a contract option from the United States Coast Guard to construct the second Heritage-class Offshore Patrol Cutter (OPC) and acquire materials for a third, with the contract potentially reaching a value of $3.3 billion. The construction of the second OPC, named Icarus, has begun in Mobile, Alabama, marking a significant step in the program that aims to enhance the U.S. Coast Guard’s offshore capabilities with advanced vessels designed for various missions, including law enforcement and search and rescue.

The most recent analyst rating on (AU:ASB) stock is a Hold with a A$5.18 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 company in the shipbuilding industry, primarily focused on designing and constructing vessels such as patrol cutters and other naval ships. The company is known for its innovative approaches to shipbuilding, including optimizing hull designs and utilizing advanced 3-D modeling to enhance manufacturing productivity and efficiency.

Average Trading Volume: 1,329,006

Technical Sentiment Signal: Buy

Current Market Cap: A$2.7B

See more insights into ASB stock on TipRanks’ Stock Analysis page.

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