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

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In a report published Thursday, Goldman Sachs analyst Isaac Ro downgraded the rating on Mettler Toledo International (NYSE: MTD) 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.

Latest Ratings for MTD

DateFirmActionFromTo
Jan 2017Deutsche BankInitiates Coverage OnHold
Jan 2017Deutsche BankInitiates Coverage OnHold
Aug 2016Bank of AmericaUpgradesNeutralBuy

View More Analyst Ratings for MTD
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Downgrades Analyst Ratings

 

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