UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Ametek Following Investor Meetings

In a report published Monday, Jefferies analyst R. Scott Graham reiterated a Buy rating on Ametek AME, and raised the price target from $52.00 to $53.00. In the report, Jefferies noted, “We sponsored investor meetings with the CEO Frank Hermance and Head of IR Kevin Coleman at AME's HQ in Berwyn, PA. We sensed organic sales are improving, but very slowly. It also appears AME may have significant acquisition activity in 4Q13. We believe both factors are catalysts for the stock. AME is one of our top picks.” Ametek closed on Friday at $45.64.