UPDATE: Jefferies Raises PT to $38 on Ametek on Accretion From Acquisitions

Jefferies reiterates its Buy rating on Ametek

and raises its price target from $37 to $38. Jefferies said, "1H12's O'Brien and Dunkermotoren acquisitions were sizable and we expect earnings accretion, a defensive trait of AME. But these transactions also show a willingness to complete larger deals. We have identified categories of interest and one possible target in particular." Ametek closed at $33.07 on Wednesday.