Seeking Alpha: After Flaring Off The Excess Enthusiasm, Chart Industries Looks More Interesting

Around nine months ago investors still had to go to pretty great lengths to come up with a growth scenario that made Chart Industries' (NASDAQ:GTLS) valuation look reasonable. With Chart Industries and other "natural gas economy" stocks like Westport Innovations (NASDAQ:WPRT) and Quantum Fuel Systems (NASDAQ:QTWW) having gotten hammered down in the ensuing months, though, it's worth taking another look at some of the better names leveraged to growth in LNG.

To be sure, I don't think my model for Chart Industries is exactly conservative, as I'm still looking for annualized revenue growth of nearly 7% and margin leverage based on a North American LNG build-out that may never materialize. That said, those numbers support a fair value above $45 and an EV/EBITDA multiple of less than 7x for a company that could grow at a 10% clip for the next decade seems like an interesting valuation for an admittedly speculative opportunity.

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After Flaring Off The Excess Enthusiasm, Chart Industries Looks More Interesting