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Fly News Breaks for December 18, 2018
AME
Dec 18, 2018 | 07:38 EDT
Morgan Stanley analyst Joshua Pokrzywinski assumed coverage of Ametek with an Overweight rating, up from the firm's prior Equal Weight rating, stating that he believes the stock is well positioned in a decelerating industrial environment. Defensives such as Ametek typically outperform Cyclicals in the 12, 18, and 24 month periods following peak-PMI environments in prior cycles, Pokrzywinski noted. He set an $85 price target on Ametek shares, up from the firm's prior $81.
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