GTT turbo calls are still relevant

This Monday, as part of our section dedicated to derivatives, we take stock of code turbo calls Q3JGBbacked by the GTT title.

With an unlimited maturity, the products are slightly losing, around 7%. The knock-out barrier of 97.57 euros is still 20% away from the current level of the action, for a leverage effect of 4.2 times.

The current crisis puts “highlight the importance of gas needs at the global level, of the energy independence of European countries vis-à-vis Russia, and more specifically the strategic importance of the maritime transport of LNG [gaz naturel liquéfié], which is the heart of [l’activité de GTT] », management said when releasing first-quarter 2022 revenue.

We continue to be confident on this issue, especially as the company anticipates “the continuation of the very strong momentum of current orders”. Consequently, we advise to keep the position, or even to buy for those who have not followed our first recommendation.

Quotation range: 0.75 – 0.76 euros.