Cantor Fitzgerald Upgrades Mettler-Toledo (MTD) to Buy

July 29, 2013 7:45 AM EDT
Get Alerts MTD Hot Sheet
Price: $415.55 -0.04%

Rating Summary:
    6 Buy, 10 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 29 | Down: 30 | New: 23
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Cantor Fitzgerald upgraded Mettler-Toledo (NYSE: MTD) from Hold to Buy with a price target of $252.00 (from $205.00).

Analyst Sung Ji Nam said, "Although the magnitude of the 2Q:13 beat (reported July 25, AMC) may have been disappointing compared to what investors are used to from MTD, we are encouraged by early indicators of improvement/stabilization in some of MTD's end markets and are upgrading our rating to BUY from HOLD. Specifically, MTD reported solid growth in the Americas and saw stable demand in Europe (together representing ~68% of sales) in 2Q, with order growth exceeding revenue growth in both 1Q and 2Q this year (reversal of last year's trends)."

For an analyst ratings summary and ratings history on Mettler-Toledo click here. For more ratings news on Mettler-Toledo click here.

Shares of Mettler-Toledo closed at $219.54 yesterday.

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