UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Ametek

In a report published Monday, Jefferies & Company reiterated its Buy rating on Ametek

, and raised its price target from $42.00 to $44.00. Jefferies noted, “In our field trip to AME's Process & Analytical Instruments division, we learned of the unit's many growth opportunities in the process markets. We also now believe total AME cost cutting in 2013 can approach 2012's record. We are edging up our forecasts and target. AME remains a top pick.” Ametek closed on Friday at $37.33.