Jefferies raises Maire's 2025 estimates, reaffirms 'buy' on 'likely' upward FY guidance revision

Jefferies reaffirms "buy" rating on Italian engineering group Maire MTCM.MI, raising its 2025 EBITDA and revenue estimates above current company guidance on a potential upward FY guidance revision

Maire shares rise as much as 5.5% to 11.01 euros ($12.46), highest since July 2008

EBITDA estimate raised by 5% to 463 million euros, revenue estimate up by 4% to 6.4 billion euros - Jefferies

Maire's CEO flagged a "potential upward revision" to its 2025 guidance, to be communicated with first-half results, Jefferies adds

Positive read also from British chemicals firm Johnson Matthey JMAT.L agreeing to sell its catalyst technologies unit to Honeywell International HON.O for 1.8 billion pounds ($2.42 billion)

Johnson Matthey shares soar around 30% following the announcement

Brokerage Equita notes the transaction supports the valuation of Maire's unit Nextchem at an enterprise value to EBITDA multiples "in the low to mid-teens", as the two businesses share "good" similarities

($1 = 0.8836 euros)

($1 = 0.7445 pounds)