On Friday, Berenberg maintained its buy recommendation on GTT, while raising its price target for the stock from 139 to 140 euros.

Following Q3 results that came in above expectations and a tightening of 2023 targets, now expected at the top end of the range, the analyst believes he has greater visibility on the group's business.

Fundamentally, orders for new LNG-powered container ships are driven by the emergence of new projects in this field and, in the longer term, by a replacement cycle for the most polluting vessels", he explains.

As for non-strategic activities in electrolysers and services, Berenberg points out that they all grew in the third quarter and could make a significant contribution to Group sales in the future.

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