J.P. Morgan Maintains Neutral on Mettler-Toledo

J.P. Morgan is out with its report today on Mettler-Toledo MTD, maintaining Neutral. In its report, J.P. Morgan writes, "With shares now trading 19x forward P/E, we see the risk-reward as balanced and remain Neutral. Our December 2011 price target to $170 is based on a 19x multiple to our 2012 EPS estimate of $9.00, a premium to life science tool and industrial comps, but one we view as warranted, given the superior track record of execution and above-average growth rate." Shares of MTD closed Monday at $148.02, down 4.39% from Friday's close.