MTD - Mettler-Toledo upgraded at Stifel citing opportunity despite macro headwinds

• The shares of Mettler-Toledo International Inc. ( NYSE: MTD ) traded higher in the morning hours Tuesday after Stifel upgraded the U.S-based supplier of precision instruments and services to Buy from Hold, citing opportunities despite ongoing macro pressures.
• The analysts with a $1,500 per share target argue that the company is rarely linked to stock-specific controversies and add that the stock “is best bought when the macroeconomic environment yields an opportunity.”
• With MTD shares down 30% amid investors’ reaction to macro pressures, “we see the current moment as one of those times,” the analysts wrote despite noting ongoing challenges to global growth.
• However, the environment will favor and distinguish companies that can withstand pressure on price and inflation to gain market share while operating agilely, which, according to analysts, are MTD’s strengths.
• “For those looking to use this market pullback to add blue-chip, low controversy buy-and-hold names, the time looks right on Mettler,” Stifel concluded.
• Read: Noting limited upside for MTD, Seeking Alpha contributor Daniel Jones urged investors to look for a good entry point before buying the stock.

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