Chart Industries (GTLS) Hits 52-Week High on Cramer Recommendation
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Shares of Chart Industries Inc. (Nasdaq: GTLS) are absolutely rip roaring today, following a positive mentioned from Jim Cramer. The stock is up 9.9% today, on increased volume. Shares also hit a new52-week high of $42 today.
Cramer said that Chart is a number one or number two player in markets around the world, and derives $60% of their revs from overseas. GTLS is also slated to be on the forefront as $27 billion in new liquefied natural gas (LNG) facilities are expected to be built worldwide in 2011.
Looking at the international scene, Cramer notes that China in particular is looking to boost their nat gas usage from 4% to 8% of their total energy consumption. The move also includes two million new nat gas vehicles hitting the road. He noted that LNG provides about 15x as much fuel as compressed nat gas, making it the logical efficient choice for many of the new facilities and vehicles.
In the U.S., Cramer said that there is a pending nat gas bill working its way through Congress, which would provide an additional windfall for the company.
With shares trading at about 21x FY11 EPS estimates, Cramer is liking Chart as a speculative play on the natural gas boom.
Cramer said that Chart is a number one or number two player in markets around the world, and derives $60% of their revs from overseas. GTLS is also slated to be on the forefront as $27 billion in new liquefied natural gas (LNG) facilities are expected to be built worldwide in 2011.
Looking at the international scene, Cramer notes that China in particular is looking to boost their nat gas usage from 4% to 8% of their total energy consumption. The move also includes two million new nat gas vehicles hitting the road. He noted that LNG provides about 15x as much fuel as compressed nat gas, making it the logical efficient choice for many of the new facilities and vehicles.
In the U.S., Cramer said that there is a pending nat gas bill working its way through Congress, which would provide an additional windfall for the company.
With shares trading at about 21x FY11 EPS estimates, Cramer is liking Chart as a speculative play on the natural gas boom.
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