Chart Industries (GTLS) on Wednesday announced plans to merge with Flowserve (FLS) in an all-stock transaction, a move that comes roughly two years after building out its service offering with the acquisition of Howden, BTIG analyst Gregory Lewis tells investors in a research note. Chart continues to pivot away from the natural gas thematic in favor of stickier aftermarket revenues, the firm says. BTIG has a Buy rating and $210 price target on shares of Chart Industries.
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