UBS Maintains a 'Neutral' on Ametek Inc. (AME); Looking for Better Entry Point, But Raising Numbers on Momentum

UBS maintains a 'Neutral' on Ametek Inc. (NYSE: AME) price target raised from $42 to $48.

UBS analyst says, "Our view on the stock: waiting for more favorable opportunity - At 10x our NTM EBITDA (historic range 9-12x, ex-recessions) valuation looks reasonable and we do see about 4% upside to Street 2012 estimates, leaving us modestly constructive. After also factoring risk/reward under a downside case (admittedly a less likely outcome given better recent U.S. macro data) we think our Neutral rating continues to make sense. With shares +12% YTD vs. SPX/ R2 +5%/ +8% and the macro outlook/markets volatile we’ll look for a better opportunity."

UBS raises FY12 EPS estimate from $2.66 to $2.79 and FY13 from $2.90 to $3.06.

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 $47.09 yesterday.

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