Ametek price target lowered to $216 from $222 at Truist

Truist lowered the firm’s price target on Ametek (AME) to $216 from $222 and keeps a Buy rating on the shares. The company’s Q4 revenue missed prior guidance and its EMG segment margins were a little light at 20.3%, down from 22.7% last year, hurt by a challenged top line tied to continued weakness in the Automation markets, though as organic growth improves as evident in organic orders accelerating, Ametek should be well positioned to enjoy very healthy incrementals as the business is rightsized and price/cost is expected to be a tailwind, the analyst tells investors in a research note.