UPDATE: Morgan Stanley Upgrades Chart Industries to Overweight on Major Transformation Ahead
In a report published Tuesday, Morgan Stanley analyst Ole Slorer upgraded the rating on Chart Industries (NASDAQ: GTLS) from Equal-Weight to Overweight, and raised the price target from $85.00 to $110.00.
In the report, Slorer noted, “We are upgrading GTLS to Overweight as we (i) believe the US LNG vehicle market is on the cusp of an inflection, (ii) expect a near-term acceleration in bookings, (iii) see upside risk to Street expectations and view the stock's high valuation as warranted based on our bottom up growth estimates.”
Chart Industries closed on Monday at $77.49.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.