Mettler-Toledo initiated with an Overweight at Morgan Stanley

Mettler-Toledo International (MTD +2.6%) gains after Morgan Stanley initiated the shares on valuation with an Overweight rating and a $271 price target.

Morgan says the stock has lagged as growth disappointed on China and global macro weakness, but with growth set to improve in 2014, it sees current levels as a good entry point.

The company has strong pricing power and a dominant, scale advantaged franchise that is superior to most peers. This, coupled with an appealing capital deployment strategy, should enable the company to achieve steady share gains.

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