2249 GMT - For Jefferies, there was good news and less-positive news in Maas Group's latest update. Analyst John Campbell is upbeat about A$855 million of new electrical work secured by the Firmus business. That suggests Maas can earn some A$1.2 billion from Firmus out to FY31 and beyond, when combined with earlier contract wins. Jefferies says this forecast now appears conservative. "Less positive, in our view, is the new A$300 million Firmus equity investment will take Maas's stake to A$500 million," says Jefferies. "This is a big gambit in a space that's seen a material correction in the past two months." Jefferies has a "buy" call on Maas, which ended Tuesday at A$5.36.
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