JPMorgan Reiterates Neutral Rating on Chart Industries (GTLS)

JPMorgan analyst Arun Jayaram reiterated a Neutral rating and $176.00 price target on Chart Industries (NYSE: GTLS).

The analyst comments "We hosted Chart Industries (GTLS) CEO Jill Evanko as part of J.P. Morgan Global Hydrogen Week to discuss the market outlook for hydrogen and the company’s unique positioning within the hydrogen value chain. CEO Evanko’s key message was the ability of GTLS to serve the entire hydrogen value chain from production to storage and transport, including a number of recent commercial wins and collaborations that look to significantly augment the company’s TAM opportunities from hydrogen. Importantly, the company’s portfolio of products that service its industrial gas and LNG customers can be utilized in hydrogen applications today. These include the company’s brazed aluminum heat exchangers (BAHX), air cooled heat exchangers (ACHX), fans, compression, and storage tanks. GTLS provides solutions from production and liquefaction to liquid/gas trailers (moving the molecule) through end use, where the company has been encouraged by increased customer interest in using H2 for heavy duty transport and as a maritime fuel (cargo ships). CEO Evanko highlighted the diverse set of projects that GTLS has participated in, including the world’s first green steel project, hydrogen refueling stations, and the production of green hydrogen. GTLS also sees meaningful after-market opportunities given its install base and domain expertise leveraging its global service center footprint with Howden. Finally, CEO Evanko’s presentation also highlighted the data center opportunities for hydrogen in power generation applications."

For an analyst ratings summary and ratings history on Chart Industries click here. For more ratings news on Chart Industries click here.

Shares of Chart Industries closed at $150.82 yesterday.

You May Also Be Interested In

• Goldman Sachs Upgrades Plains GP Holdings, L.P (PAGP) to Neutral
• Bernstein SocGen Group Starts Cipher Mining (CIFR) at Outperform
• UBS Downgrades Bharat Heavy Electricals Ltd (BHEL:IN) to Neutral