BofA notes that Chart Industries (GTLS) fell nearly 14% since hitting a near-term high last week, which the firm thinks is due to concerns of SVB Financial (SIVB) exposure, confusion around Howden deal financing, and broader concerns around elevated debt levels. However, after speaking to Chart management "a few times," the firm said Chart has confirmed it has no direct exposure to SVB Financial and BofA thinks these concerns are overblown. The firm reiterates a Buy rating and $199 price target on Chart Industries, which it adds remains "a top pick."
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Published first on TheFly
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