On Tuesday, Berenberg renewed its buy recommendation on Gaztransport et Technigaz (GTT), while lowering its target price for the stock from €140 to €137.

The analyst points out that last month, the specialist in the design of membrane containment systems for LNG shipping and storage confirmed its targets for the full 2023 financial year.

The Group, it points out, expects sales growth to accelerate in the second half of the year, driven by the growing number of LNG vessels under construction.

The intermediary adds that its order book, which stands at 289 units, provides the company with particularly high visibility, greatly enhanced by the flow of orders from Qatar by 2023/24.

With regard to the Korean Supreme Court's rejection of its request for an appeal in the case of the separation of technology licenses, Berenberg cites a decision that is "not very favorable", but which it believes should have a "modest" impact, in line with the expectations of GTT's management team.

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