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AMETEK Posts Solid Q1 With Strong Orders Growth, RBC Says

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-- AMETEK (AME) reported a solid Q1 operating beat and raise, with an "impressive" over 22% organic orders growth, RBC Capital Markets said in a note Thursday.

The report said its order strength was broad-based, with every division posting at least over 5% organic order growth and each sub-segment achieving increases, pointing to acceleration in the process instrumentation and power businesses.

The note also said growth-by-acquisition continues to be at the forefront of the company's growth algorithm. It said AMETEK has

$5 billion in M&A firepower with net debt at 0.7x.

RBC raised its price target to $260 from $259 while keeping its outperform rating.

Price: $230.19, Change: $-5.31, Percent Change: -2.25%

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