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The shares subsequently recovered approximately 35 per cent in the March quarter on the back of the Landing Craft Heavy win and renewed investor confidence. Austal disclosed a US$17.1 million accounting error in February 2026, which triggered a 23 per cent single-day drop. Analyst consensus target price is approximately AU$6.12, compared to shares trading near AU$4.52 in early April 2026 — an implied upside of roughly 35 per cent. The company carries an order book of approximately AU$17.7 billion — and that figure does not yet fully incorporate the Mogami frigate programme, which would extend visible revenue by another decade-plus. Austal is currently delivering Landing Craft Medium vessels under a AU$1.029 billion contract awarded in December 2025, followed by Landing Craft Heavy under a AU$4 billion contract signed in February 2026. These span naval architecture, marine engineering, combat systems integration, electronics, project management, supply chain logistics, and trade apprenticeships in welding, fitting, and precision manufacturing.

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