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Reason why Austal Limited surged

Apr 18, 2016 | Team Kalkine
Reason why Austal Limited surged

Austal Limited

Industry: Industrials



ASB Dividend Details
  • Won PPBR project: The shares of Austal Limited (ASX: ASB) delivered a strong performance on April 18, 2016 generating over 5.84%. The strong rally in the stock is on the back of its update of being chosen as the preferred tenderer by the Commonwealth of Australia for the Pacific Patrol Boats Replacement (PPBR) Project to build up to 21 steel-hulled patrol vessels as well as for sustainment over 30 years in an overall Government expenditure of up to $900 million.
  • Recommendation: Trading at an attractive P/E and a strong dividend yield, we give a “BUY” recommendation on the stock at the current price of $1.54
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Past performance is not a reliable indicator of future performance.