UPDATE: Bank Of America Reiterates On Mettler-Toledo International On Takeaways From Investor Meeting

In a report published Monday, Bank of America analyst Derik de Bruin reiterated a Buy rating on Mettler-Toledo International (NYSE: MTD), and raised the price target from $290.00 to $320.00.

In the report, Bank of America noted, “On 11/10/14 we hosted Mettler-Toledo's (MTD) CEO (Olivier Filliol) and Treasurer & Head of IR (Mary Finnegan) for investor meetings in New York. Recall that on 11/6 MTD reported upside 3q14 results, raised its FY14 outlook and, despite headwinds from F/X and a still choppy macro, gave FY15 guidance ahead of expectations (link). Our key takeaway from the visit is that after ~two years of playing defense, MTD has shifted to a more offensive stance as the outlook improves. MTD is ramping up its marketing, sales, and service organizations to capture new opportunities for its core lab and industrial products, and believes that recent concerns over the emerging markets have obscured the significant growth potential remaining.”

Mettler-Toledo International closed on Friday at $288.27.