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MAAS Group's Relationship with Firmus a 'Very Large Revenue Opportunity,' Jefferies Says

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MAAS Group Holdings' (ASX:MGH) relationship with Firmus is a "very large revenue opportunity," according to a Friday note by Jefferies.

MAAS Group's strategic future is opaque. It is one of only two named power/electrical supply chain partners on Firmus' website. MAAS Group's likely win rate on Firmus projects remains uncertain. Firmus has proposed around 1.6 gigawatts of Australian capacity by fiscal 2028. The Firmus relationship is non-exclusive.

Maas is likely to reenter quarrying and pursue other mergers and acquisitions (M&A) deals.

The investment firm upgraded MAAS to a buy rating from a hold and raised the price target to AU$6.40 per share from AU$5.50 per share.

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