This from FN Arena newsletter this morning. A quality stock that seems to be overlooked for no logical reason.B - AUSTAL LIMITED
Citi rates ASB as Buy (1) - Citi highlights more opportunities in the US after naval shipbuilding has been proposed to be included in the latest covid-19 relief measures. This includes Expeditionary Medical Ships (EMS) and Expeditionary Fast Transport (EPF).
If Austal is awarded the contract, Citi notes this will shore up its pipeline. This is important with the Littoral Combat Ship (LCS) program winding down, comments the broker.
The company’s ability to win new work with the US Navy is now enhanced by the its expansion into steel shipbuilding. The broker thinks the market is under-appreciating this at the moment.
Citi retains its Buy rating with a target price of $4.23.
Target price is $4.23 Current Price is $3.30 Difference: $0.93 If ASB meets the Citi target it will return approximately 28% (excluding dividends, fees and charges). Current consensus price target is $3.36, suggesting upside of 1.8%(ex-dividends)The company's fiscal year ends in June.
Very positive outlook via FN Arena today
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Last
$2.34 |
Change
0.020(0.86%) |
Mkt cap ! $848.1M | |||
| Open | High | Low | Value | Volume |
| $2.33 | $2.35 | $2.28 | $1.118M | 480.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2842 | $2.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.35 | 6465 | 2 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$2.34 |
Change
0.020 ( 1.09 %) |
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| Open | High | Low | Volume | ||
| $2.31 | $2.35 | $2.29 | 71979 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| ASB (ASX) Chart |