UBS Downgrades Mettler-Toledo (MTD) to Neutral

August 5, 2016 8:33 AM EDT
Get Alerts MTD Hot Sheet
Price: $415.00 -0.17%

Rating Summary:
    6 Buy, 10 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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UBS downgraded Mettler-Toledo (NYSE: MTD) from Buy to Neutral with a price target of $415.00 (from $389.00) on balanced risk/reward.

Analyst Jonathan Groberg commented, "Our view on MTD's operating fundamentals and management's premium execution has not changed at all. If anything, the firm's recent investor day and another beat and raise quarter give us more conviction in the firm's strategy and management's execution ability. However, at the current valuation, both absolute and relative, it is hard to argue that this superior performance is not appreciated by the street or that the stock is mis-priced. Given valuation and potential global macro uncertainty we think the risk/reward to investors at current prices is balanced and we move to Neutral."

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 $396.14 yesterday.

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