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GTT Shares Rise on Record Order Book and Upgraded LNG Forecast
Shares of GTT (EPA:GTT), the French engineering firm specializing in liquefied natural gas (LNG) containment systems, rose approximately 2.5% on Wednesday after the company reported its order book reached a record level and it increased its long-term industry forecast.
Record Orders Signal Strong Demand
GTT announced that its order book stood at a record €1.9 billion at the end of June 2026. The company stated it had recorded 65 orders during the first half of the year, a figure that highlights continued strong momentum in the global LNG market.
Underscoring its confidence in sustained demand, GTT also raised its long-term forecast for LNG carrier orders. The company now anticipates 550 new orders for the 2026-2035 period, a notable increase from its previous projection of 450 vessels.
AdAnalyst Upgrade and Market Impact
The positive operational update and improved outlook prompted a ratings change from brokerage firm Portzamparc. The firm upgraded GTT stock to "buy" from its previous "accumulate" rating.
In conjunction with the upgrade, Portzamparc raised its price target for GTT shares to €214, an increase of 3.9%. The broker cited the record-high order book and the revised ten-year order estimates as the key factors behind its more bullish stance.
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