UPDATE: Jefferies Reiterates Buy Rating, Raises PT on AMETEK Following Strong 2Q Results

In a report published Thursday, Jefferies analyst R. Scott Graham reiterated a Buy rating on AMETEK AME, and raised the price target from $50.00 to $52.00. In the report, Jefferies noted, “Further to our Initial Take report, AME indicated on its call sales growth should be up only low-single-digits in 2H owing to the sluggish industrial economy. We trim our estimates. AME is very upbeat on 2H M&A. We expect the environment to improve by YE and that AME can restart upside surprising in 4Q.” AMETEK closed on Wednesday at $47.15.