Australia's Austal rebounds; Bell Potter positive on shipbuilder's outlook

Austal

12/03/2025 23:25

** Shares of Australia's Austal ASB.AX rise 7.1% to A$3.76

** Stock rebounds after having lost 22% in the previous session following a discounted placement

** Analysts at Bell Potter remain positive on the outlook for the shipbuilder

** Brokerage says company now sufficiently capitalised to execute its major capital expenditure program; retains "buy" call on stock

** However, lowers PT to A$4.45 from A$4.70 owing to the massive slump on Wednesday

** Stock up 19.7% YTD

 (Reporting by Rishav Chatterjee in Bengaluru)

 ((Rishav.Chatterjee@thomsonreuters.com))