This liquified natural gas equipment provider’s stock could add more than 35% in value, according to Wells Fargo. The firm upgraded Chart Industries to overweight from equal weight on Wednesday with a $224 per share price target, up from $162. The stock has soared more than 43% from the start of the year. In trading, shares rose 4% following the upgrade. GTLS YTD mountain Chart Industries stock has climbed more than 43% from the start of 2023. Chart Industries provides equipment used to produce and store liquefied natural gas and other industrial fuels. Analyst Roger Read said the company could benefit from the transition toward clean energy in concert with positive steps management is already taking to reduce debt and sell assets. The company acquired gas handler Howden in March , which Read said underpinned a more optimistic outlook on the company going into the remainder of 2023 and 2024. “The completion of the Howden acquisition, LNG exposure, participation in the energy transition/energy security, and deleveraging initiatives support a return to historical valuation and a positive outlook,” Read said. “Additional divestitures could support a further strengthening of the balance sheet.” The company estimated $655 million to $705 million in cash can be used to slash its debt this year. That figure is higher than its prior estimate of $275 million to $325 million, and doesn’t reflect any other potential divestitures. “We expect GTLS to reach a net leverage ratio of 2.8x by the end of 2024, which is within the 2.5-2.9x targeted range,” he said. — CNBC’s Michael Bloom contributed to this report.