Fly News Breaks for October 18, 2019
Oct 18, 2019 | 08:39 EDT
Lake Street analyst Robert Brown says Chart Industries lowered its 2019 and 2020 outlook last night as large liquefied natural gas projects have shifted out a couple of quarters and the Air-X business saw a material softening. However, order rates for LNG equipment remain high and core growth at D&S is expected to sustain at 7%-8%, above the 2%-5% rate at which this business has historically grown, Brown tells investors in a research note. Further, he thinks the estimate reset is already priced into the shares. The analyst reiterates a Buy rating on Chart Industries with a $109 price target.
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