UPDATE: Stifel Nicolaus Initiates Chart Industries at Hold on Lack of Near-Term Catalysts

Stifel Nicolaus initiated coverage on Chart Industries

with a Hold rating. Stifel Nicolaus said, "Chart is a global leader in producing cryogenic tanks and heat exchangers that are used in a variety of industries; however, the liquid natural gas (LNG) industry has been the primary driver of top-line growth in recent years. While we are extremely positive on the long-term prospects and fundamentals of the LNG industry over the coming two to three years and see Chart as extremely well positioned in this energy industry transformation, we see few near-term catalysts for the stock over the next six to nine months given that maxed out capacity should dampen order growth near term." Chart Industries closed at $59.56 on Tuesday.