UPDATE: Lake Street Capital Initiates Chart Industries at Buy on Natural Gas Catalyst to Growth

Lake Street Capital initiated coverage on Chart Industries (NASDAQ: GTLS) with a Buy rating and a $75.00 price target.

Lake Street Capital commented, "We are initiating coverage with a BUY rating as we believe Chart Industries is in a strong position to capture growth from a global secular shift toward natural gas as an energy source. The early stages of this shift (global LNG export facilities, expanding LNG use in China) have helped Chart's backlog triple since 2010. Looking forward, we see several new multi-billion dollar market opportunities developing that should drive a long tail of growth for the company."

Chart Industries closed at $63.63 on Wednesday.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.