Piper Jaffray: Chart Industries Believes They Will Benefit From Westport Innovations And Royal Dutch Shell Co-Marketing Agreement

Piper Jaffray released a research report on Chart Industries

announcing the co-marketing agreement between Westport Innovations

and Royal Dutch Shell

. Chart Industries believes they will benefit from the increased infrastructure. In the report, Piper Jaffray writes, “Westport and Shell announced a co-marketing agreement aimed at developing LNG as a transportation fuel in North America. The program will combine fuel supply, customer support, and comprehensive maintenance into an integrated package for customers, providing the latest tailwind for increased NGV use in North America. While not a direct participant in the program, we believe Chart Industries will benefit from the increased infrastructure necessary to support LNG vehicles and to some extent through on board fuel tanks.” Piper Jaffray has an Overweight rating and a $70.00 price target on Chart Industries, which closed yesterday at $50.17.