UPDATE: Goldman Sachs Downgrades Mettler Toledo International to Neutral on Continued Uncertainty

In a report published Thursday, Goldman Sachs analyst Isaac Ro downgraded the rating on Mettler Toledo International

from Buy to Neutral, but reiterated the $226.00 price target. In the report, Ro noted, “We downgrade shares of Mettler Toledo from Buy to Neutral. Since adding MTD to the Buy List on August 5, 2011, shares are +55% versus the S&P +32%. Over the past 12 months, MTD is +23% vs. S&P +17%. Our Buy thesis was predicated upon a strong management franchise that offered high exposure to emerging markets, opportunity for share gains, and minimal exposure to academic funding pressures. While we continue to appreciate industry-best management quality, our current Neutral rating is based on continued macroeconomic uncertainty in the emerging markets (chiefly China), less favorable risk-reward, and fair valuation in the backdrop of current growth environment. We make no changes to our estimates or price target.” Mettler Toledo International closed on Wednesday at $213.12.