UPDATE: Jefferies Assumes Coverage on Mettler-Toledo International, Downgrades to Hold, Lowers PT on Valuation

In a report published Tuesday, Jefferies analyst Brandon Couillard assumed coverage on Mettler-Toledo International

, 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. We assume coverage of MTD with a Hold rating and $225 price target.” Mettler-Toledo International closed on Monday at $221.65.