UPDATE: Jefferies Assumes Coverage on Mettler-Toledo, Downgrades to Hold on Valuation
In a report published Tuesday, Jefferies analyst Brandon Couillard assumed coverage on Mettler-Toledo International (NYSE: MTD), downgraded the rating from Buy to Hold, and lowered the price target from $250.00 to $225.00.
In the report, Couillard noted, “While MTD's robust pricing power and proactive cost rationalization efforts are allowing it to navigate a period of tepid demand conditions, present valuations (15% premium to peers and historical levels) already appear to discount expectations for accelerating fundamentals in 2H13 and into 2014, in our view.”
Mettler-Toledo International closed on Monday at $221.65.
Latest Ratings for MTD
|May 2015||JP Morgan||Maintains||Neutral|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.