Wall Street Thinks This Hydrogen Stock Could Double or Triple, And It Could Be Just The Start
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Wall Street believes that Chart Industries (NYSE: GTLS), a hydrogen equipment supplier, has the potential to double or triple in value. The company recently received positive news, including a debt upgrade and an equity upgrade. The debt upgrade from a "B+" rating to "BB-" means that Chart could see greater demand for its debt and lower refinancing costs. The equity upgrade from "Neutral" to "Buy" predicts that Chart could generate $600 million in free cash flow this year and reduce its debt from $3.7 billion to $3.1 billion by the end of 2024. The stock's valuation multiple compressed after the acquisition of Howden, but with the market getting over its fears about the debt load, the stock could see healthy gains. Chart has also secured two big hydrogen orders, one from Element Resources Inc. for a green hydrogen facility in California and another for a collaboration with GasLog LNG Services Ltd. to study the buildout of a global liquid hydrogen supply chain. Chart's stock is considered cheap, trading at 11 to 13 times this year's earnings estimates, and the company sees a growing hydrogen market opportunity. If the hydrogen market expands as projected and Chart continues to capitalize on opportunities, it could experience earnings growth and multiple expansion.

#Hydrogen #StockMarket #ChartIndustries #EnergyTransition #DebtUpgrade #EquityUpgrade

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