Chart Trading at All-Time High, Time to Take Some Profits

3/6 - "We reiterate our views on Chart Industries growth prospects, but we advise taking some profits off the
table. We are tactically downgrading GTLS to Equal-weight following the recent parabolic run-up in the stock price, spiking 24% since the company released earnings on Feb-28 and +60% from YTD lows on Jan-23."

"We would rather put money to work in our three Overweight-rated equipment names (DRQ, CAM and DRC). On our above-consensus estimates, with ~25% potential upside to our price target, GTLS provides approximately half the upside embedded in the other equipment stocks...The $32-33 level seems like a decent entry point that would revert GTLS stock price to ~40% upside to price target...Our PT of $47 is based on ~15x 2009 EPS estimate. Our target P/E multiple represents an historical ~20% discount to the production-oriented equipment peers (CAM, DRC and DRQ)."