Jefferies Initiates Ametek Coverage: Buy, $51 PT

Jefferies initiated Ametek

coverage with a Buy rating and $51 price target in a research report published today. In the report, Jefferies states, "We initiate coverage with a BUY. AME is a premium mid-cap industrial, and we believe investors will gravitate toward the stock in 2012 because earnings have both leverage to a cyclical upturn and downside protection in a slowdown." Shares of Ametek closed today at $41.02, down 1.94% from Monday's market close.