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AlphaValue/Baader Lifts EPS Forecasts for Energy Services Group GTT on New Projects Sanctions

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AlphaValue/Baader Europe upgraded its earnings expectations for Gaztransport & Technigaz (GTT.PA), d/b/a GTT, citing recently sanctioned projects and the absence of one-off losses.

"We have raised our EPS estimates for 2026, after calibrating revenues and EBITDA at the top of guidance: revenue of EUR780M (range EUR740-780M) and EBITDA of EUR530M (range EUR490-530M, margin of ~68%), consistent with recently sanctioned GTT projects and the absence of non-recurring items," analysts said Monday. "For 2027-2028, we have extended this trend, as strong [liquefied natural gas] demand and solid commercial conversion support activity; we have also factored in a positive financial result once again, in line with the +EUR9.0M generated in 2025 on net cash of approximately EUR350M."

As such, EPS estimates were increased by 7.01% to 12.1 euros for 2026 and by 2.47% to 12.2 euros for 2027.

The French liquefied gas transport and storage group's stock is rated add with a price target of 228 euros.

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