Chart Industries Inc. (GTLS), a leading manufacturer of cryogenic equipment, saw its stock plummet 5.01% on Monday, March 3, during the intraday trading session. The sharp decline came amid mixed analyst actions on the stock.
According to reports, Wells Fargo maintained its "Overweight" rating on Chart Industries but trimmed its target price slightly to $214 from $215. On the other hand, HSBC raised its price target on the stock to $215 from $205, citing positive prospects for the company's cryogenic equipment business.
The conflicting analyst opinions and target price revisions likely contributed to the volatility in Chart Industries' stock price on Monday. While the company's long-term growth prospects remain promising, investors may have reacted cautiously to the mixed analyst sentiment.
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