Citi downgraded Mettler-Toledo to Sell from Neutral with a price target of $975, down from $1,050. Heading into 2024, Mettler-Toledo is carrying risk to the downside on both a numbers and valuation basis, the analyst tells investors in a research note. The firm says the company has continued to be a challenging execution story driven by several factors. Mettler-Toledo has faced destocking headwinds in its pipettes and process analytics sensors businesses as well as a weaker demand backdrop in China due to customer caution and reduced activity, contends Citi.
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