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Quickstep Holdings (ASX: QHL) – Opportunities for JSF Maintenance

  • We note an announcement from the Minister for Defence Industry Christopher Pyne that Australia has been chosen to provide maintenance and other work for components of the Joint Strike Fighter.
  • Quickstep - manufacturing JSF fuselage and tail fin parts – is (not surprisingly) listed as one of the Australian companies that will participate in this program.
  • The announcement states that the “Turnbull Government has made defence industry a major part of its economic plan” and “it is estimated that this initial work will be worth between A$80m and A$100m in today’s dollars and will create and sustain hundreds, if not thousands, of Australian jobs”.
State One comments:

The above initiative opens up the potential for additional revenue streams relative to our base-case scenario. At current share price levels we believe that QHL offers significant upside potential relative to our target price of A$0.18 per share.

9/11/2016 7:14:12 AM

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