Citigroup starts Maire with 'buy', sees upside from gas spending

By Reuters News

** Citigroup initiates coverage of Maire MTCM.MI with "buy" rating, seeing the Italian engineering group as the best-placed of European equities to benefit from increased global spending on natural gas projects

** It further sees its technology business becoming a second, more profitable driver of growth

** The brokerage's 2029 EBITDA forecast is 13% above consensus

** It sets Maire's PT at €18.00, saying the stock trades at a discount compared to European Service peers

** Maire's stock closed at €12.09 on Friday

** Out of 10 analysts covering Maire, six rate it "strong buy" or "buy," ​two "hold" and one "sell" — LSEG data

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