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Fly News Breaks for October 29, 2015
AME
Oct 29, 2015 | 08:19 EDT
As previously reported, BofA/Merrill upgraded Ametek to Buy from Neutral and raised its price target to $62 from $57 on shares. Analyst Andrew Obin believes is a high quality name which will continue to grow earnings through solid execution and accretive capital moves despite signs of a broader industrial slowdown. Obin expects Ametek to remain disciplined with acquisition multiples and for cash redeployment to provide a long-term pathway for growth.
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