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.