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.
Mettler-Toledo (MTD +0.4%) bucks a weak tape after Cantor Fitzgerald upped the shares from Hold to Buy earlier today, and raised its price target from $205 to $252.
The firm says it's encouraged by MTD's FQ2 earnings beat on Friday, and it's seeing early indicators of improvement/stabilization in some end markets.
Most notably, Cantor says MTD reported solid growth in the Americas and saw stable demand in Europe - which together represent around 68% of sales - with order growth exceeding revenue growth in both Q1 and Q2 this year.
Mettler-Toledo (MTD -1.2%) slips this morning after Jefferies cut the shares to Hold on valuation and lowered its price target to $225 from $250 following a change in coverage. The firm says the stock is already trading at a 15% premium to its peers and expectations for improved fundamentals in H213 and FY14 have already been 'baked-in' to the stock.
Goldman upgrades the Life Sciences Tools & Diagnostics sector to Attractive, but some individual names suffered as Mettler Toledo (MTD -2%) and Sigma-Aldrich (SIAL -1.1%) catch downgrades to Neutral from Buy. SIAL has "few levers to drive EBIT [as] long-term organic growth guidance of 4-6% is too high." Quest Diagnostics (DGX +3.5%) and LabCorp (LH +2%) are upgraded to Buy and Neutral respectively on the former's "untapped capital allocation potential and margin expansion" and the latter's ability to manage pricing pressure.