Mettler-Toledo International Inc
MTD: XNYS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| $757.00 | Shpjxvj | Rhbfmqprk |
Mettler-Toledo Earnings: 2023 Revenue and 2024 Guidance Challenged by Weak Market Conditions
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We are maintaining our $880 fair value estimate for narrow-moat Mettler-Toledo as fourth-quarter and full-year 2023 results were about as expected. Following the January announcement of shipping delays impacting sales late in the fourth quarter, we updated our model to temper our 2023 revenue and adjusted EPS forecasts while lifting our respective 2024 forecasts to reflect the anticipated recovery in sales in first-quarter 2024. Shares currently look overvalued relative to our unchanged valuation.