BofA calls ‘too cheap’ Chart Industries a top pick after capital raise

After Chart Industries completed a capital raise last week to fund its $4.4B acquisition of Howden, BofA analyst Chase Mulvehill said he thinks this removes "a big overhang" for the stock, which he views as "too cheap even considering increased debt levels." While decreasing his price target on Chart shares to $190 to reflect these capital market transactions and his Chart/Howden pro forma model, Mulvehill reiterates a Buy rating on the shares and put Chart on the firm’s SMID cap top picks list.