Piper Jaffray Raises Chart Industries PT To $44 (GTLS)

Piper Jaffray raised its Chart Industries GTLS price target to $44 from $42 in a research report published today. In the report, Piper Jaffray states, "We continue to highlight Chart's near-term opportunity related to LNG consumption in China. Based on recently announced projects, China's LNG import capacity will triple to 27.2M tons per year (t/y) by the end of 2012. Wood Mackenzie forecasts that China's LNG consumption could reach 46M t/y by 2020. We believe Chart's pole position in the build out of the internal infrastructure necessary for moving and storing LNG in China will be a significant driver for the ~20% y/y growth we see for the D&S segment in CY11. We are increasing FY12 EPS and our PT to $44 based on significant LNG traction in China." Shares of Chart Industries were at $37.33 in after hours trading, reflecting no change from Wednesday's market close.