Wachovia Resumes Coverage on AMETEK (AME) with an Outperform
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Wachovia resumes coverage on AMETEK, Inc. (NYSE: AME) with an Outperform rating. Valuation Range: $43 to $45
Wachovia analyst says, "CEO Frank Hermance appears well focused on AME's growth strategies that include operating in low-cost locales, ongoing working capital management, geographic and end-market expansion, and new product introductions. Its ongoing positive mix shift and cost reduction initiatives could improve margins beyond those "best-of-class" AME already posts, while working capital reductions and controlled capital spending could boost cash flow (that could be invested in further acquisitions). Delivering on earnings and its successful and ongoing acquisition program could continue to be catalysts for stock performance."
To see more analyst ratings on AME Click Here.
AMETEK, Inc. manufactures and sells electronic instruments and electromechanical devices worldwide.
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