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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation

Solid Third-Quarter Performance From Ametek; We Raise Fair Value Estimate on Time Value of Money

Narrow-moat-rated Ametek posted very strong third-quarter earnings that saw management raise both its organic sales and adjusted EPS guide. That said, nothing in its latest results alters our long-term view of the firm. Consequently, while our valuation now incorporates this latest information, we only lift our fair value estimate to $138 from $136 due to time value of money. Said differently, these incremental changes weren’t responsible for the $2 raise.

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