Ametek upgraded to Buy at TD Cowen on momentum and mix

As previously reported, TD Cowen analyst Joe Giordano upgraded Ametek (AME) to Buy from Hold with a price target of $230, up from $180. Backlog remains near highs and should continue to grow, says the analyst, who sees orders and revenues inflecting. Ametek’s end market mix provides a bit of both “offense and defense,” the analyst tells investors.