UBS upgraded Chart Industries to Buy from Neutral with a price target of $170, up from $152. The company’s execution continues to improve, and the benefits of the Howden deal are now resulting in strong de-leverage, the analyst tells investors in a research note. The firm believes this is underappreciated by the market and models sales growth of 32% and EBITDA growth of 52% in 2024. Once Chart gets to its leverage ratio targets it could initiate a buyback program, adds UBS.
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