UPDATE: Cantor Fitzgerald Downgrades Mettler-Toledo to Hold on Valuation
Cantor Fitzgerald published a research report on Mettler-Toledo (NYSE: MTD) and downgraded the company from Buy to Hold with a raised price target, up from $178 to $200.
In the report, Cantor Fitzgerald wrote, "With little to fault in terms of management execution over the last several years, strong competitive position, significant leverage to emerging market growth, and operational discipline, we continue to believe MTD is well positioned to deliver above-industry-average EPS growth LT. That said, with shares currently trading near their five-year peak multiple (PE basis), we would wait for a better entry point or increased confidence for significantly improved macro-economic environment before turning more constructive."
Mettler-Toledo closed Wednesday at $204.11 and is currently up 1.15 percent.
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