Ametek falls as TD Cowen downgrades to 'market perform'

Ametek

27/11/2023 14:54

** Shares of electronic instruments maker Ametek  AME.N 
fall 1.4% to $153.93 in early trading hours
    ** TD Cowen downgrades AME to "market perform" from
"outperform" as it expects co's organic revenue to decrease in
FY24 on declining orders
     ** Also cuts price target to $160 from $165, representing a
2.5% upside to the stock's last close $156.18
    ** Nine of 17 brokerages rate the stock "buy", and eight
"hold"; their median PT is $171 - LSEG
    ** Up to Friday's close, stock had risen 10.5% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))