Mettler-Toledo initiated with an Overweight at Barclays

Barclays initiated coverage of Mettler-Toledo (MTD) with an Overweight rating and $1,325 price target The firm thinksMettler-Toledo is one of the most favorably positioned names within core tools. The company derives 40% of revenues from industrial-based applications across most end markets, notably biopharma, food, core industrial, and specialty chemicals manufacturing, the analyst tells investors in a research note. Barclays believes relatively low exposure to the biopharma and academic end markets versus peers helps insulate the company from the two biggest funding-related headwinds impacting most of the space.