Market not appreciative of shipbuilder Austal's revenue potential, says Citi
** Citi says market is not appreciating Australian defence shipbuilder Austal Ltd's ASB.AX medium- to long-term revenue upside potential
** Brokerage retains "buy" rating and price target of A$4.14
** ASB shares ended 4.5% lower at A$3.16 on Nov. 1, breaking a five-day winning streak
** ASB in its AGM presentation on Nov. 1 said it has a record order book of A$12.7 bln ($8.37 bln) and expects EBIT of A$80 mln in FY25 vs A$56.5 mln in FY24
** Co expects "years of growing ahead" as order book continues to grow
** Citi says EBIT guidance is inline with consensus and is "pleasing" and has a "potential upside"
** ASB shares up 55.7% so far this year, as of last close, significantly outpacing a 7% gain in the ASX All Ordinaries index .AORD
($1 = 1.5172 Australian dollars)
Reporting by Sameer Manekar in Bengaluru
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