Australia's AML3D headed for 4-year high at close on potential US Navy collaboration

AML3D

08/07/2025 05:02

** Shares of AML3D AL3.AX extend gains from Monday's rally; rise 2% to A$0.255

** Shares up 37.8% YTD, on track for highest close since 2021, if gains hold

** The technology co jumped on Monday after it said it received a letter of intent from the U.S. Navy to collaborate on manufacturing initiatives

** Bell Potter raises price target to A$0.35 from A$0.30, retains "buy"

** Brokerage views the letter of intent receipt as a major development, sees opportunity for co to increase sales to the U.S. maritime industrial base

 (Reporting by Nichiket Sunil in Bengaluru)

 ((nichiket.sunil@thomsonreuters.com))