Allied Motion: Jumps on immediately accretive TCI acquisition

Allient

07/12/2018 16:54

** Shares of the maker of controlled motion products
 AMOT.O  up 14.7 pct at $51.31 
    ** Co buys electronic and magnetic products maker TCI LLC in
a deal valued at $64.1 mln
    ** AMOT expects the deal to improve its margins and be
immediately accretive  urn:newsml:reuters.com:*:nBw8MXx3a
    ** Both brokerages covering the stock raise their PTs;
Craig-Hallum calls acquisition "highly attractive", ups PT to
$66 from $62
    ** Dougherty says TCI expands AMOT's capabilities across
electronics spectrum and its engineered solutions approach
should help AMOT continue its strong pattern of revenue growth
    ** Brokerage raises PT to $63 from 57, implying an upside of
~40 pct to stock's last close
    ** Stock has jumped 50 pct this year

 (Reporting by Amy Caren Daniel in Bengaluru)
 ((Reuters Messaging:
Amy.CarenDaniel.thomsonreuters.com@reuters.net))