Auriga Upgrades Mettler-Toledo (MTD) to Buy

Auriga upgraded Mettler-Toledo (NYSE: MTD) to Buy with a $185 price target, saying the recent pullback has created an attractive buying opportunity.

The firm states, "Post-earnings, the shares have pulled back as a combination of sell the news, looming difficult Y/Y comparisons, and market pullback all weighed. While difficult comparisons may hamper the magnitude of top-line growth, we believe market fundamentals remain solid and MTD's product profile (~80% of sales come from number one products), operational focus and emerging market exposure (~32% of sales) leave it well suited to grow well above its end markets. As such, we are upgrading to Buy and reiterating our $185 price target."

For more ratings news on Mettler-Toledo click here and for the rating history of Mettler-Toledo click here.

Shares of Mettler-Toledo closed at $158.55 yesterday.

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