Good 2013 Visibility Makes Ametek (AME) Attractive

December 3, 2012 9:39 AM EST Send to a Friend
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Price: $50.95 -0.06%

Rating Summary:
    4 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 19 | Down: 17 | New: 21
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Jefferies maintained a Buy rating electronic instruments manufacturer Ametek Inc. (NYSE: AME) and raised its price target to $44.00 (from $42.00).

"P&AI [division] has intensified its focus on productivity in the current environment. Indeed, AME has increased its productivity target from $60M to $80M in 2012 . . . We now believe AME's initial total productivity target for 2013 could approach the same $80M record level of this year, which would exceed the $60M we had in our model," said analyst R. Scott Graham.

"We also now believe total AME cost cutting in 2013 can approach 2012's record," added Graham.

One of Ametek's biggest advantages is visibility on 2013 earnings growth. This is a characteristic that many of its industrial peers lack, and makes the stock attractive, thinks Jefferies.

For an analyst ratings summary and ratings history on Ametek Inc. click here. For more ratings news on Ametek Inc. click here.

Shares of Ametek Inc. closed at $37.33 yesterday.




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