UPDATE: Stifel Upgrades Mettler-Toledo (MTD) to Buy

Stifel analyst Daniel Arias upgraded Mettler-Toledo (NYSE: MTD) from Hold to Buy with a price target of $1,500.00.

The analyst comments "In our view, MTD is a stock that is best bought when the macroeconomic environment yields an opportunity, since stock-specific controversies rarely do. With shares down 30% YTD amidst digestion of the macro picture, we see the current moment as one of those times. Over the next 12 months, we expect robust product demand and continued impeccable execution within a global growth picture that no-doubt faces challenges, but should prove accommodative and yield differentiation for top-tier companies that can take price, offset inflation, gain share, and operate nimbly - all of which are noted MTD strengths. We believe MTD's industrial exposure is misunderstood, and our confidence in material EPS upside vs. consensus is higher than anywhere else in the group, with a path to $45+ in '23 (Street $42.24). For those looking to use this market pullback to add blue-chip, low controversy buy-and-hold names, the time looks right on Mettler."

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 $1195.02 yesterday.

You May Also Be Interested In

• Deutsche Bank Upgrades Target Hospitality (TH) to Buy
• Veralto (VLTO) Reiterated at Buy by Stifel as Agreement to Acquire Cleanwater1 Announced
• Seaport Global Securities Upgrades Analog Devices (ADI) to Buy, 'appears to be entering the sweet part of the cycle'