Rosenblatt Starts Ametek Inc. (AME) at Buy
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Rosenblatt analyst Scott Graham initiates coverage on Ametek Inc. (NYSE: AME) with a Buy rating and a price target of $115.00.
The analyst comments "We consider AME a premier industrial. It has built an excellent LT earnings track record, and boasts a well-above peers ROIC and margin and portfolio of advanced tech businesses. The key to the former measures is best-in-class productivity which AME uses to build/protect margins, fund sales initiatives and streamline acquisitions. It can flex up productivity as needed to maintain earnings growth. AME is a compounder. Newer sales strategies lend visibility to LT organic growth, in our view. We're expecting slower, +MSD earnings through 1H20 then an acceleration to +DD in 2H20-21."
Shares of Ametek Inc. closed at $96.25 yesterday.
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