Jefferies Boosts Numbers on Ametek (AME) After Solid Q1

Jefferies boosted estimates and its price target on Ametek Inc. (NYSE: AME) from $52 to $55 following Q1 results that exceeded expectations with "very favorable" quality.

"We believe there is excellent earnings visibility here and another large acquisition was announced, which is more earnings fuel, in our view. AME trades at a premium to peers, but with each quarter it shows us why," the analyst comments.

Q2 EPS goes from $0.68 to $0.69, FY12 EPS from $2.70 to $2.77 and FY13 EPS from $3.03 to $3.08.

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 $50.14 yesterday.

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