-- 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%