Wolfe Research Updates Ratings On Two Electrical Equipment Companies

  • Wolfe Research analyst Nigel Coe upgraded AMETEK, Inc. AME to Outperform from Peer Perform and raised the price target to $166 (suggesting 18% upside) from $162. 
  • The analyst said that he has a "preference for increasing quality/long-cycle exposure as we move deeper into the economic recovery, and Ametek checks both boxes." 
  • Coe further added that potential balance sheet deployment and attractive relative valuation make for "an enticing setup."
  • The analyst downgraded Vertiv Holdings Co VRT to Peer Perform from Outperform and lowered the price target to $29 from $30. 
  • The analyst states that the stock's re-rating story has played out as much as it can in lieu of further progress on core OMX initiatives, adding that going deeper into the economic recovery, he has a preference for "quality exposure."
  • Price Action: AME shares are trading lower by 1.13% at $140.75 and VRT lower by 6.05% at $23.91 on the last check Tuesday.
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