Berenberg on Wednesday reiterated its Buy recommendation on Technip Energies, with a target price of 26.5 euros, believing that future contracts are on the horizon.

"We expect the Group to win several major projects this year, which will further improve visibility on sales trends", explains the German broker in a note.

In addition to the positive outlook for the liquefied natural gas (LNG) market, the broker is also encouraged by the momentum enjoyed by its Technology, Products and Services (TPS) segment, which includes its activities in carbon capture and sustainable fuels (SAF) for aviation.

According to Berenberg, the TPS segment should continue to grow its margins to 'double-digit' levels by 2025, in line with the Group's medium-term objectives.

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