UPDATE: Bank of America Merrill Lynch Upgrades Mettler-Toledo International to Buy, Raises PT

In a report published Monday, Bank of America Merrill Lynch upgraded its rating on Mettler-Toledo International

from Neutral to Buy, and raised its price target from $180.00 to $220.00. BofA Merrill Lynch noted, “As a diversified global provider of precision instruments for use in laboratory, industrial and food retailing, MTD is one of the companies in our coverage universe most leveraged to the macro environment. Indeed, with about 16% of sales stemming from China and growing footprint in other key emerging markets (India, Brazil, and Eastern Europe) the company is well positioned to benefit from an improving economic environment. In addition, with only 5% of sales from academic and government sources, MTD has one of the lowest exposures in the life sciences group and is thus less at risk from the lingering uncertainties surrounding US government funding.” Mettler-Toledo International closed on Friday at $197.02.