Ametek Inc. (AME) PT Raised to $115 at Rosenblatt

August 28, 2020 6:36 AM EDT
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Price: $138.60 +1.26%

Rating Summary:
    17 Buy, 7 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 11 | New: 19
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Rosenblatt analyst Scott Graham raised the price target on Ametek Inc. (NYSE: AME) to $115.00 while maintaining a Buy rating.

The analyst commented, "We checked in with management. With cost reductions fully in place and key end-markets moving past their bottoms, we believe there is good visibility on our 2H20 earnings forecast of ~ -10% vs. 2Q's -20%. We also now believe next year's productivity will be higher than we had forecast and are increasing our 2021 EPS estimate; we expect earnings of +11% next year. We have updated our M&A analysis and now estimate AME could add 12-15% to earnings through acquisitions over the next year. We're increasing our PT to $115. AME is our top pick."

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