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Jefferies, which
raised its PT on shares of Mettler-Toledo
MTD, is providing some color on the firm.
“MTD raised the mid-point of its formal 2011 EPS outlook by 4% (to $7.75) to account for the 4Q10 upside and a stronger organic revenue growth outlook (7% vs prior 5%), mitigated somewhat by the adverse impact of an incremental ~2% (-$0.15) FX headwind (relative to its prior view) related to recent EUR/CHF cross rate developments,” Jefferies writes.
“Such an outlook implies incremental operating margins of 30% on organic revenue gains (vs 27% in 2010), suggesting an escalation of its core flow rate despite the specter of incremental raw material inflation pressures. The mid-point of MTD's 1Q11 EPS guidance ($1.36; +7% vs consensus) factors an 11% organic revenue growth experience, which implies a continued acceleration in its two-year organic revenue trajectory (+17% vs +10% in 4Q10).”
Mettler-Toledo closed Thursday at $159.35.
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