UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Ametek

In a report published Friday, Jefferies reiterated its Buy rating on Ametek

, and raised its price target from $44.00 to $50.00. Jefferies noted, “Further to our Initial Take report, we note that productivity was accelerated to offset sluggish sales and drive 4Q12 earnings, and cap a strong 2012. This is typical AME fare. Orders have improved. Combined with elevated productivity and acquisition accretion, 2013 also looks strong, and guidance conservative.” Ametek closed on Thursday at $41.10.