Fly News Breaks for February 7, 2020
Feb 7, 2020 | 09:44 EDT
UBS analyst Dan Brennan upgraded Mettler-Toledo to Neutral from Sell with a price target of $786, up from $670 following the company's Q4 results. In a research note to investors, Brennan says that Q4 was a modest beat on revenues, but sees a more balanced risk/reward given PMIs turning up and valuation becoming more reasonable, management baking in coronavirus risk in Q1, and strong execution. While Mettler-Toledo remains among the highest quality stocks in his coverage, Brennan says given valuation continues to be a premium and risks remain.
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