RBC Capital Starts Mettler-Toledo (MTD) at Sector Perform

RBC Capital analyst Dan Leonard initiates coverage on Mettler-Toledo (NYSE: MTD) with a Sector Perform rating and a price target of $1,515.00.

The analyst comments: “We are initiating coverage of Mettler-Toledo (MTD) with a Sector Perform rating and $1,515 price target. Our Sector Perform rating balances our appreciation for Mettler's business quality with its mixed opportunity set and risk to its long-range plan (LRP). We could be more constructive with greater confidence in the 6%+ long range sales target.

Mettler is a collection of businesses organized around precision measurement. The company is known for its consistent execution over a long period of time — growing sales above GDP, expanding margins, rarely missing a quarter, and demonstrating a knack for globalizing niche businesses acquired through a conservative M&A strategy. Most importantly, the company has the most pricing power in the analytical instruments industry. Mettler's premium multiple reflects this track record and the business's otherwise high quality characteristics.”

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 $1405.14 yesterday.

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