Chart Industries multiple should expand as leverage improves, says Stifel

Stifel analyst Benjamin Nolan notes that Chart Industries reported earnings that came in below expectations, but the firm attributes this primarily to lower revenue due to timing. "More importantly," there was a strong improvement in margins and the company did maintain revenue and EBITDA guidance for 2023, said the firm, which adds that it is "confident the multiple will expand" as leverage improves. Stifel, which expects Chart should still have a high teens sustainable revenue compound annual growth rate, keeps a Buy rating and $224 price target on the shares.