Chart Industries (GTLS) PT Lowered to $200 at Raymond James

Raymond James analyst Pavel Molchanov lowered the price target on Chart Industries (NYSE: GTLS) to $200.00 (from $215.00) while maintaining a Strong Buy rating.

The analyst comments "Chart Industries (GTLS) continues to be a leading manufacturer of gas and liquid molecule handling, equipment, and technology. Despite significant trade/tariff uncertainty weighing on the stock, we still see a relatively favorable demand backdrop (e.g., LNG, space exploration, power/data centers). With that, GTLS has a runway to execute on growth priorities, improve the balance sheet, and enhance returns to shareholders. Ahead of 1Q25 earnings (May 1), we reiterate our Strong Buy rating, but trim our target price to $200. 1Q25 preview: Adjusting 1Q EPS/EBITDA for seasonality — can GTLS keep 2025 outlook despite tariff risks? For 1Q25, we expect sales to decline seasonally (just shy of $1 billion is our new estimate), pushing EBITDA to $237 million and EPS of $1.85 (similar to consensus). While 1Q will clearly be watched for the overall trajectory, the 2Q+ outlook will be sharply in focus given the potential disruptions from tariffs/trade changes. Management comments last month suggested that despite the uncertain backdrop, GTLS’ supply chain and manufacturing footprint (including in the U.S.) can serve as an offset. Updating estimates and rolling out 2027. With 1Q25 changes and flow through, we’ve nudged our EPS estimate to $12.10 for FY25 with EBITDA still at $1.18 billion — both near the low-end of guidance. Given tariff/economic uncertainty, we’re cutting our FY26 EPS estimate to $14.50 and EBITDA to $1.285 billion. For our new 2027 estimates, we’re still showing growth — but below what we see as GTLS’ long-term growth algo potential. We model EBITDA at $1.33 billion and EPS at $16.00. That said, despite strong fundamentals in many subcategories noted above, the outlook can change quickly given the potential for trade disruption — and management commentary will be watched closely."

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