UPDATE: Langenberg Downgrades AMETEK; Raises PT

According to a research report published this morning, Langenberg has downgraded AMETEK AME from Buy to Hold, and has increased PT from $50 to $55. In the report, Langenberg said, "Fundamentals are excellent, the deal pipeline is full and there was nothing in the quarter to change our view about the performance of the management team or the value of the company. Ametek is at our $50 target and we have a choice - raise the target or downgrade. We are doing both." AMETEK closed yesterday at $50.14.