Austal Wins A$135m Extension for Additional Evolved Cape-Class Patrol Boats

Austal ( (AU:ASB) ) has issued an update.

Austal has secured a contract extension worth more than A$135 million to build two additional Evolved Cape-class Patrol Boats for the Australian Border Force, lifting the total number of these vessels ordered to 14. The deal deepens Austal’s long-running relationship with the Australian Border Force and Royal Australian Navy, reflects continued confidence in the Evolved Cape-class platform, and further embeds the company’s role in Australia’s border security architecture and sovereign shipbuilding base. Construction of the new boats will take place at Austal’s Henderson shipyard in Western Australia, supported by a national supply chain, while Austal continues to provide in-service support for both Cape-class and Evolved Cape-class fleets and progresses delivery of the Guardian-class Patrol Boat program.

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 Limited is an Australian shipbuilder specialising in the design, construction and support of patrol boats and other defence and border security vessels. Operating key facilities in Henderson (Western Australia), Cairns (Queensland) and Darwin (Northern Territory), the company supplies naval and constabulary platforms to domestic agencies such as the Royal Australian Navy and Australian Border Force, as well as international customers, underpinning Australia’s sovereign shipbuilding and maritime security capability.

Average Trading Volume: 1,602,543

Technical Sentiment Signal: Buy

Current Market Cap: A$2.82B

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