Seaport Research analyst Scott Graham lowered the firm’s price target on Ametek to $208 from $210 and keeps a Buy rating on the shares. While the company experienced a modest slowdown in sales in Q1, the firm does not change its positive view on the stock considering the de-stocking in EMG that should end in Q2, the rise of productivity seen in Q1, the synergies at Paragon Medical, and the material balance sheet optionality, the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AME:
- Ametek raises FY24 EPS view to $6.74-$6.86 from $6.70-$6.85, consensus $6.84
- Ametek sees Q2 EPS $1.63-$1.65, consensus $1.67
- Ametek reports Q1 adjusted EPS $1.64, consensus $1.59
- AMETEK Announces Record First Quarter Results and Raises 2024 Guidance
- AME Earnings Report this Week: Is It a Buy, Ahead of Earnings?