Australia's Maas Group gains after CLSA upgrades on AI infrastructure push, lifts PT

MAAS group

05/08/2026 02:13

Updates
** Shares of Australia's Maas Group MGH.AX rise as much as 6.5% to A$5.710, their highest level since July 20
** CLSA upgrades MGH to "Outperform" from "Hold", saying the firm's pivot from building materials to AI infrastructure is accelerating
** Says pivot supported by a significant electrical contract win as well as a larger stake in Firmus, which has a proposed 3.3GW Australia-centric pipeline
** On Tuesday, MGH raised its annual earnings forecast and bagged an A$855 mln ($602 mln) contract
** CSLA believes MGH can win further work on Australia's AI and data centre buildout despite near-term AI-market volatility
** Hikes PT to A$6.20, from A$4.35
** YTD, stock up over 2.5%, including the day's moves
     
($1 = 1.4196 Australian dollars)

(Reporting by Rajasik Mukherjee in Bengaluru)
((Rajasik.Mukherjee@thomsonreuters.com))