TD Cowen analyst Joe Giordano upgraded Ametek (AME) to Hold from Sell with a price target of $180, up from $158. The firm says its downgrade thesis has largely played out while the Faro Technologies acquisition provides a good opportunity as costs are taken out. Ametek’s negative catalysts have run their course and a more neutral stance on the shares is now appropriate, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AME:
- Cautious Hold on Ametek Amid Uncertain Market Dynamics and EIG Cycle Conclusion
- Ametek price target raised to $198 from $190 at Baird
- Ametek price target raised to $219 from $200 at Truist
- Ametek price target raised to $225 from $212 at Mizuho
- Ametek price target raised to $215 from $210 at DA Davidson