Last week the Australian Government committed a further $4.6 billion to expand the Osborne Naval Shipyard under AUKUS, taking total funding to more than $8.5 billion and strengthening Austal’s long-term domestic naval shipbuilding pipeline. We like the risk/reward this announcement delivers for ASB after its sharp ~60% correction.
- We are bullish towards ASB looking for 25-30% upside following the Australian government’s announcement last week.
Trade Idea: Buy Austal (ASB) using a limit of $3.90, with stops at $3.40, around 13% risk.
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