For quite a while my thesis on Chart Industries (GTLS) has been that it's a really good industrial gas infrastructure company with meaningful operational upside from cleaner energy opportunities like LNG and green hydrogen.
That perception has definitely shifted in the last six months, with the company aggressively pursuing opportunities in green hydrogen and carbon capture, as well as emerging industrial growth opportunities and ongoing LNG opportunities. With Chart Industries now seen as a clean energy play (or "cleaner" at least), the shares have more than doubled since my last update and now trade like an industrial growth stock.
Valuation here is challenging, just as it is in other industrial growth areas like automation - the operational upside is certainly there, but a lot of growth is already baked into the share price. I do still see okay long-term upside potential, but I would caution investors that volatility is likely to remain high given energy tech's growth darling status at the moment.
Read the full article at Seeking Alpha:
Chart Industries: From Cleaner Energy Upside To A Cleaner Energy Story In 6 Months
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