** Network-as-a-Service provider Megaport MP1.AX falls as much as 6.6% to A$8.21

** Citi trims PT by 7% to A$14.65, reflecting lower peer multiples, earnings downgrades; reiterates "buy"

** Forecasts FY26 group EBITDA of A$74 million ($52.5 mln), margin of 24% - at top-end of co's forecast

** Last month, co upgraded FY26 consolidated group revenue outlook to A$302 mln-A$317 mln from A$260 mln-A$270 mln, EBITDA estimates to 21%-24% of revenue vs A$62.3 million in FY25

** Citi lowers revenue forecast for Latitude, co's recent acquisition, to ~$26 million and $59 million for H2 FY26 and CY26, respectively, below mid-point for FY26 forecast/CY26 earn-out target estimate

** Forecasts FY27 EBITDA of A$117 million, with margin of 28%, which assumes 24% y/y opex growth

** Says strong H1 result overshadowed by concerns around FY27 margins estimate, forex headwinds, weak Latitude update

** YTD, MP1 down 31.8%

($1 = A$1.4092)

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com))