Oddo BHF maintains its 'outperform' rating on GTT shares, with a target price raised from 160 to 170 euros.

Last night, the group published results that were "very good", with sales up 39% to 427.7 ME, reflecting a clear acceleration in H2 (+53% vs. +23% in H1).

In addition, EBITDA was at the top end of guidance at 234.5 ME (190/235 ME), +45.6%.

"The new guidance confirms an acceleration with 2024 sales of between 600 and 640 ME (+40/49%) and EBITDA of 345/385 ME (+47/64%) above our expectations (334 ME) and those of the css (341 ME)", says the broker.

Based on the mid-range, we are revising upwards our EBITDA estimates by 9% to 365 ME', adds the analyst.

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