UPDATE: Jefferies Lowers PT on Mettler-Toledo from $205 to $190
Jefferies maintained a Buy rating on Mettler-Toledo (NYSE: MTD) and lowered its price target from $205 to $190.
Jefferies commented, “MTD's 2Q12 EPS of $2.15 was $0.01 above consensus on better profitability trends. We are lowering our 2012 & 2013 EPS forecasts to $9.25 (from $9.40) and $10.35 (from $10.50), respectively, on the reality of a weaker operating environment. Our PT moves to $190 (from $205) on lower cash flow forecasts.”
Mettler-Toledo closed at $155.07 on Thursday.
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