Chart Industries, the Industrials sector company, was revisited by a Wall Street analyst today. Analyst Marc Bianchi from TD Cowen downgraded the rating on the stock to a Hold and gave it a $210.00 price target.
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Marc Bianchi has given his Hold rating due to a combination of factors surrounding the recent acquisition announcement. The decision to downgrade Chart Industries from a Buy to a Hold comes after Baker Hughes (BKR) agreed to acquire the company.
The acquisition deal sets a definitive purchase price of $210 per share, which is a slight increase from the previous price target of $205. This acquisition agreement has led to a reassessment of the stock’s potential for further growth, prompting the Hold rating.