Craig-Hallum analyst Eric Stine raised the firm’s price target on Chart Industries (GTLS) to $207 from $199 and keeps a Buy rating on the shares. The firm notes Chart Industries’ Q3 results and outlook played out largely as it expected, with Q3 below Street estimates, FY24 guidance lowered and initial FY25 guidance an attempt to better reflect the increased project nature of the overall business. The company expressed high confidence that its outlook is conservative due to elevated backlog and backlog coverage, a strong order outlook, market tailwinds, and lessons learned, Craig-Hallum adds. While the firm thinks that this will likely take several quarters to be proven out in the eyes of the Street, it is cautiously optimistic that appropriate guidance is in fact the case.
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Read More on GTLS:
- Chart Industries price target raised to $200 from $198 at Stifel
- Chart Industries price target lowered to $145 from $146 at Barclays
- Chart Industries Sees Strong Q3 Growth and Positive Outlook
- Chart Industries reports Q3 adjusted EPS $2.18, consensus $2.48
- Chart Industries sees FY24 adjusted EPS ~$9.00, consensus $10.45
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