1103 GMT - Mitie's acquisition of Marlowe is in line with the company's growth strategy, Panmure Liberum analysts Joe Brent and Joe Walker write in a note. Mitie agreed to buy software-and-services provider Marlowe for about 366 million pounds. The deal increases the company's exposure to the large and growing compliance market, they say. Additionally, revenue synergies are significant and expected to grow, the analysts add. The investment bank raises its recommendation on the stock to buy from hold and its target price to 170 pence from 160 pence. Mitie and Marlowe shares are up 1.25% at 145.40 pence and 0.5% at 439 pence, respectively. (najat.kantouar@wsj.com)
(END) Dow Jones Newswires
June 10, 2025 07:03 ET (11:03 GMT)
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