TKMS’s strong results could set the stage for an increase to its midterm targets next quarter, Bernstein analysts say. The German naval ship and submarine builder was able to offset weakness in its electronics segment in its fiscal third quarter to raise guidance for the full year. Shares jump 12% following the announcement.

Yangzijiang Maritime Development’s fleet expansion and newbuild vessel deliveries could drive sequential growth, says DBS Group Research. The Singapore-listed provider is likely to see six to eight deliveries in 2H, providing a visible runway to recognize capital gains over 2026-2028. DBS reiterates its buy rating despite shares declining 8.5%.

Austal’s Australasian business should have an attractive valuation if it completes the sale of its U.S. operations to South Korean conglomerate Hanwha, which has bid up to $1.2 billion including debt. Macquarie estimates an enterprise value-to-EBIT multiple of 4.9-8.4x for the military shipbuilder’s Australasian business, which looks favorable compared with a global peer group average of 15x.