Austin Engineering (ASX:ANG) said it plans to buy back up to 10% of its ordinary shares within a year, which reflects management's confidence in short-term cash generation and long-term growth prospects, according to a Thursday report by Euroz Hartleys.
Euroz also believes that the company's current valuation is "hardly demanding" and considered compelling at 5.5 times the company's estimated earnings for fiscal year 2026.
The firm maintained the company's buy rating and its AU$0.70 price target.
Shares of the company rose 3% in recent Friday trade.
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