Chart Industries price target raised to $210 from $170 at BTIG

BTIG raised the firm’s price target on Chart Industries (GTLS) to $210 from $170 and keeps a Buy rating on the shares. Data centers are helping drive the biggest U.S. grid transformation since utilities connected across state lines in the 1920s, the analyst tells investors in a research note. The firm says U.S. data center capacity is expected to grow at 10% annually over the next five years, which should help drive U.S. power demand growth 2% annually over this period. While BTIG believes that renewables will play a larger role longer-term, given their intermittency issues, natural gas will play a pivotal role now and later in addressing electricity demand bottlenecks, remaining positive on Chart Industries for gas equipment exposure, the firm added.