Ametek upgraded to Hold from Sell at TD Cowen

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.