** Jefferies hikes PT of Australian industrial service and real estate company Maas Group MGH.AX; maintains "buy" rating

** New PT of A$5.25 an upside of ~23% from stock's last close

** Brokerage says Maas' unit Cleary Bros can double construction materials output within 5 years

** Says Cleary Bros can significantly reduce its unit costs by improving equipment and site management

** Maas Group's management increasingly confident in the ramp-up of renewable energy projects - Jefferies

** MGH is developing renewable energy infrastructure along the east coast of Australia

** Jefferies expects a strong medium-term EPS growth and "multiple expansion" for co

** MGH down 10.9% YTD

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))