Shares in Austin Engineering are recovering from market volatility, buoyed by renewed speculation mining services peer Bradken may seek to take it over. Austin makes and repairs mining equipment and steelwork structures, and has developed advanced welding technology. Trading on a forward price-earnings multiple of 12.2, Austin shares are up 13 per cent since last August, despite a difficult year in steel. Its manufacturing subsidiary is in Wyoming, delivering an exchange rate upside. Bloomberg says six of seven analysts recommend it as a buy, with a consensus target of $5.17.