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

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Jefferies reiterated its Buy rating on Ametek (NYSE: AME) and raised 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.

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