In a report released today, Tycho Peterson from Jefferies upgraded Mettler-Toledo (MTD – Research Report) to a Hold, with a price target of $1,110.00.
Tycho Peterson has given his Hold rating due to a combination of factors impacting Mettler-Toledo’s stock. The primary reason for the upgrade from Underperform to Hold is the significant improvement in valuation, as the price-to-earnings ratio has decreased considerably since last June. Despite the lack of exposure to high-demand sectors like bioprocessing and pharmaceutical replacements, and ongoing macroeconomic uncertainties, particularly in China, the valuation appears to have stabilized, reducing the likelihood of further significant downside.
Additionally, while the company’s recent revenue figures have exceeded expectations, the future guidance has been adjusted downward due to tariff impacts and weaker trends in key markets such as the U.S. and China. Although there are challenges, including a slight decline expected in China and the impact of tariffs, the company’s strategic positioning and cost management efforts are expected to mitigate some of these pressures, justifying the Hold rating.
In another report released on April 22, Robert W. Baird also maintained a Hold rating on the stock with a $1,034.00 price target.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MTD in relation to earlier this year.