Austal’s inclusion in the US Navy’s Umanned Surface Vessel program is a major win for the company, the broker suggests, ensuring Austal remains a relevant shipbuilder for the US Navy as it pivots towards unmanned vessels.
Austal is in a prime position, the broker believes, to win the shipbuilding component of the LUSV (large) contract expected this year.
Outperform and $4.75 target retained.
Sector: Capital Goods.
Target price is $4.75.Current Price is $4.09. Difference: $0.66 – (brackets indicate current price is over target). If ASB meets the Macquarie target it will return approximately 14% (excluding dividends, fees and charges – negative figures indicate an expected loss).
