(News Bulletin 247) – Berenberg on Tuesday renewed its buy recommendation on Gaztransport and Technigaz (GTT) while lowering its target price on the stock from 140 to 137 euros.
The analyst recalls that the specialist in the design of membrane containment systems for the maritime transport and storage of LNG confirmed last month its objectives for the whole of the 2023 financial year.
The group, he underlines, expects an acceleration of the growth of its turnover in the second half, under the effect of the increasing number of vessels under construction in LNG.
The intermediary adds that its order book, which stands at 289 units, provides the company with particularly high visibility, largely reinforced by the flow of orders from Qatar by 2023/24.
Regarding the rejection of his request for an appeal by the Supreme Court of Korea in the file of the separation of technological licenses, Berenberg evokes a decision “unfavorable” but which according to him should have a “modest” impact, in accordance with the anticipations of the GTT management team.
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