UBS Maintains a 'Neutral' on Ametek Inc. (AME); Q3 Saw Margin Momentum, Top Line Easing

UBS maintains a 'Neutral' on Ametek Inc. (NYSE: AME) price target raised $2 to $42.00.

UBS analyst says, "3Q takeaways: margins still defy gravity but top line growth moderating...Key estimate revisions: nudging up top line and margin outlook - Our revenue estimates rise to reflect the EM Test and Reichert deals. We continue to model a material slowdown in core growth in 2012, now to 3.8% (was 3.7%) vs. 2011E of 11.3% given tough comps, a weaker global macro, and lower y/y order growth in 3Q. Our EBIT margin forecasts for 2011/12 rise by 20/40bp, reflecting strong execution on managing price/inflation and cost cutting initiatives."

(UBS raises F11 EPS estimate from $2.32 to $2.35 and FY12 from $2.52 to $2.66)

For more ratings news on Ametek Inc. click here and for the rating history of Ametek Inc. click here.

Shares of Ametek Inc. closed at $39.22 yesterday.

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