Australia's Austal gains as Macquarie raises rating, PT

Austal

30/10/2025 02:38

** Shares of Austal ASB.AX rise as much as 4.9% to A$7.14, their largest intraday pct gain since October 1

** Macquarie upgrades rating to "outperform" from "neutral", hikes target price by 2% to A$8.1

** Brokerage also raises EPS forecasts by 4%, 2% and 2% for fiscals 2026, 2027 and 2028, respectively

** Shipbuilder at its AGM on Tuesday provided EBIT guidance of A$135 million

** Macquarie says forecast beat market estimates of A$130 million that was provided before the AGM update

** Says co's outlook remains favourable with plenty of growth opportunities; adds revenue and earnings growth expected in FY26

** Stock up 125% YTD, including the day's moves

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))