Morgan Stanley has reduced its price target on Mettler-Toledo (NYSE:MTD) to $1,475.00 from $1,550.00 but left its rating unchanged at Equalweight, according to the firm. At the time of the note the stock was trading at $1,360.44, and InvestingPro analysis flagged the company as being overvalued relative to its Fair Value.
The firm said the adjustment primarily reflects a revision to the comparative set of Core Tools peers used in its valuation model. Morgan Stanley also lowered the target multiple underlying its valuation, moving to a 25x 2026 EV/EBITDA target multiple from the previous 26x multiple.
Even with the reduced multiple, Morgan Stanley observed that the new target still implies roughly a 5x premium to the Core Tools peer group within the sector. The persistence of that premium is a noteworthy element of the firm’s relative valuation assessment.
Despite cutting the price target, Morgan Stanley’s maintenance of an Equalweight rating signals a neutral stance on the laboratory equipment manufacturer rather than an overtly negative view.
The note comes amid a broader flurry of analyst activity following Mettler-Toledo’s fourth-quarter results. The company reported revenue and earnings that exceeded analyst expectations for the quarter, and it modestly raised its fiscal 2026 earnings outlook.
Following those results, Stifel reiterated its Buy rating and kept a price target of $1,600. BofA Securities increased its price target to $1,640 and maintained a Buy rating, citing the company’s execution and a cautious but constructive outlook for 2026. Separately, BofA upgraded the stock from Neutral to Buy, citing confidence in Mettler-Toledo’s execution capabilities and product quality.
Goldman Sachs initiated coverage with a Neutral rating and set a price target of $1,475, noting the company’s steady performance and its differentiated pricing strategy.
Corporate governance developments also featured in recent updates: Mettler-Toledo appointed Michael J. Tokich, the former chief financial officer of STERIS, to its Board of Directors effective February 5, 2026.
Collectively, these analyst moves and the board appointment come during a period the firms describe as one of positive momentum and strategic adjustment for Mettler-Toledo.
While the range of price targets and ratings highlights differing views across brokerages, the Morgan Stanley note emphasizes how valuation outcomes can shift materially based on peer-set composition and the multiple applied to forward EV/EBITDA. For investors tracking industrial and laboratory-equipment exposure, those model inputs remain key drivers of near-term target revisions.