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AMETEK Inc

AME: XNYS (USA)
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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation
$996.74ZlfpyGxbpgtrnpt

Ametek Had a Solid First Quarter, Despite Share Declines; We Maintain Our Fair Value Estimate

Nothing in Ametek’s first-quarter results materially alters our long-term view of the firm, as the firm’s latest results broadly fell in line with our expectations. Management brought down its 2022 sales forecast marginally due to some currency-related headwinds, yet it raised its EPS guide by about 3 cents at the midpoint. These changes were negligible in our model, and therefore we maintain our $136 fair value estimate.

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