Oppenheimer Believes AMETEK Has Real Upside (AME)
Oppenheimer & Co. discusses AMETEK, Inc. (NYSE: AME) in length in an earnings report, and says it believes AME could show significant upside. It has an Outperform rating on shares.
In the note sent to clients, Oppenheimer notes, "We believe AME is well positioned to cleanly exceed our $0.65 consensus estimate and raise full-year expectations (current guidance is $2.43-$2.47). With the exception of aerospace and oil and gas, management recently noted a "v-shaped" recovery playing out across its other businesses with strong 2Q order momentum appearing to hold through 3Q. Orders are approximating peak 2008 levels with particular strength in programmable power, process and differentiated electromechanical."
Shares of AMETEK gained 15 cents yesterday to close at $48.77 yesterday.
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